Guiyang Steel’s sales revenue totals RMB 2.6 billion in 2011

Chinese steelmaker Shougang Group's Guizhou Province-based subsidiary Guiyang Iron and Steel (Guiyang Steel) has announced that in 2011 its crude steel and finished steel outputs respectively totaled 90,000 mt and 250,000 mt, while its sales revenue for the year reached RMB 2.6 billion ($412 million), up 8.3 percent year on year.
 
Meanwhile, Guiyang Steel also stated that it has made great progress in building its special steel recycling and production base at the New Industrial Zone in Zhazuo in the county of Xiuwen in Guiyang. The total cost of the project is expected to be RMB 13.8 billion ($2.2 billion). The designed annual finished steel production of the project is 2 million mt, with a targeted annual output value of RMB 15 billion ($ 2.4 billion). Construction of the project is expected to be completed by September this year.