On November 13, Hunan Province-based Chinese steelmaker Lengshuijiang Steel and Iron Corporation Ltd successfully commissioned a new steel bar production line with an annual production capacity of 700,000 mt.
The bar production line project is the company’s key project during China’s 11th five-year-plan period (2011-2015) aimed at production with reduced emission levels, with investment totaling over RMB 100 million ($15.1 million). The main product of the project is reinforced steel bar used in small-scale construction.
In 2009, faced with the global financial crisis, Lengshuijiang Steel optimized its product mix and also lowered its production costs through reduction of energy consumption. In the year in question, Lengshuijiang Steel produced 2.72 million mt of pig iron, 2.8 million mt of steel billets and 3 million mt of finished steel, up 32 percent, 32 percent and 38 percent year on year respectively. In the given period, its sales revenues reached RMB 10.7 billion ($1.6 billion).