Xinjiang Autonomous Region-based Chinese steelmaker Bayi Iron and Steel Group (Bayi Steel) has announced that it plans to invest in four energy conservation projects at its iron-making facilities to ensure environment-friendly and energy-saving operations. It indicated that it will raise the necessary funds itself.
Bayi Steel stated that by 2020 its total annual emissions of sulfur dioxide and nitrogen oxide will be kept within 15.80 million mt and 15.74 million mt, down 15 percent and 15 percent, respectively, compared to the end of 2015. Emissions standards for the iron and steel industry in China are much stricter than before. Accordingly, the company has decided to raise funds of RMB 287 million ($42.8 million) to carry out its planned projects, which include desulfurization, denitrification and dust removal at its coking plant and at gas boilers in the thermal branch plant of its energy center. Bayi Steel said the projects are an active response to the new environmental standards and will promote the long-term development of the enterprise.