Jinan Iron and Steel plans capacity expansion

Jinan Iron and Steel plans capacity expansion

Recent market news reports that, Chinese steel producer Jinan Iron and Steel, not taking the government's warning about new investments into consideration, is planning to expand its capacity remarkably in the next couple of years. According to the plan of the company, the annual capacity will be increased to 8 million tons in 2004 and 10 million tons in three-year's time. The annual capacity of the mill in 2002 was 4 million tons. Meanwhile, Chinese largest steel maker Baoshan Iron & Steel announced that it will increase its capacity to 30 million tons in the next five years.