Anhui Province-based Chinese steelmaker Masteel (Hefei) Iron and Steel Co. Ltd, a subsidiary of Maanshan, Anhui-based steel producer Maanshan Iron and Steel Co. Ltd (Masteel), has announced that its environmental relocation project report has been approved by China's National Development and Reform Commission (NDRC). Total investment in the project in question will be RMB 20.788 billion ($3.3 billion).
Accordingly, Masteel (Hefei) is expected to eliminate 1.9 million mt of iron-making capacities and 2 million mt of steelmaking capacities (including both crude steel and finished steel production capacities). The company will relocate its iron-making and hot rolled producing facilities to its parent company Masteel, while it will build a cold rolled sheet processing base in the county of Feidong in Hefei, with an annual output capacity of 2.55 million mt. The steel sheet produced will be supplied to the automotive and household appliance sectors.
After completion of the project, the parent company Masteel will have an annual output of 13.55 million mt of pig iron, 15 million mt of crude steel and 14.08 million mt of finished steel.
In the January-September period of this year, Masteel produced 12.9058 million mt of pig iron, 12.9567 million mt of crude steel and 12.3191 million of finished steel, up 8.71 percent, 3.74 percent and 2.64 percent respectively, all year on year.