Baotou, Inner Mongolia-based Chinese private sector steel producer Jiyu Iron and Steel Co. (Jiyu Steel) has announced its plan to dismantle its 36 m2 sintering machine, in line with its program to eliminate outdated production capacity.
Jiyu Steel also stated that it is planning to invest over RMB 3 billion ($476.19 million) in the technology upgrading program which it commenced in March 2011. The first phase of the upgrading project has just been completed, while work on the second phase of the project is to be commenced soon.