Chongqing-based Chinese steelmaker Chongqing Iron and Steel (Group) Co. (CISC) has stated that by the end of China's 12th five-year plan period (2011-15) it is targeting an annual finished steel production capacity of 10 million mt and an annual sales revenue of RMB 100 billion ($15.8 billion). In 2011, Chongqing Steel achieved a finished steel output of 6.03 million mt and sales revenue of RMB 31.4 billion ($4.97 billion).
Company president Dong Lin stated that Chongqing Steel's shipbuilding plate production capacity has greatly increased following relocation to the Changshou district of Chongqing. In the January-May period of the current year, Chongqing Steel produced 832,700 mt of shipbuilding plate, ranking first in terms of shipbuilding plate output in China.
By the end of the 12th five-year plan period, Chongqing Steel will also seek to achieve an annual production capacity of 10 million mt of ore concentrate.