Chonggang Group, a steelmaker based in the southwestern Chinese city of Chongqing, has issued its targets for the 2011-2015 period. By the end of the period in question, the steel producer is aiming to achieve an annual output of 10 million mt crude steel and to become the largest steelmaker in southwestern China, with production including high grade finished steels and high quality ship steel.
Currently, the company has an annual crude steel output of 6.5 million mt and sales revenues of RMB 35 billion.
The company will meet its targets for the coming five years in the following ways:
First, by launching four production lines: a sections, wire and bar production line, a CR and coating production line, a 168 mm diameter pipe production line and a 5000 mm heavy plate production line. The aim is to supply materials to key industries in the Chongqing district and in southwestern China, such as the automotive, equipment, nonferrous metal and chemical industries.
Second, the steelmaker will aim to achieve an annual output capacity of 0.5 million mt of pig iron and 1 million mt special steel products. It will produce high-alloy special steels, premium wire and bar, etc.
Additionally, the company will research COREX technology for the production of pig iron and will cooperate with international companies and promote integration of resources.