Zhejiang Province-based Chinese steelmaker Ningbo Iron and Steel (Ningbo Steel) has indicated that it plans to carry out three energy-saving and environmentally friendly production projects with a total investment of RMB 2.28 billion ($347 million) before the end of this year. Preparatory work has already commenced.
The three projects in question include the construction of a 430 m2 environmentally friendly sintering machine and sintering gas desulphurization equipment, which is expected to cost RMB 630 million ($95.9 million); construction of a deep slag processing line with an annual capacity of 800,000 mt, a slag grinding line, a blast furnace for briquettes, and a slag micro-powder production line, with a total investment of RMB 600 million ($91.3 million); and, finally, construction of a continuous slab casting and rolling line, with an investment of RMB 1.05 billion ($160 million).
After the programs have been completed, Ningbo Steel will be able to produce 200,000 mt of pickled steel products and 300,000 mt of galvanized steel products per year.
In 2010, Ningbo Steel produced 3.87 million mt of crude steel. The operating revenue achieved by the company for the year was RMB 15.6 billion ($2.37 billion).