China's Ministry of Industry and Information Technology (MIIT) has announced that Shaanxi Province plans to increase both its annual crude steel and pig iron production capacities to 15 million mt by 2015, within the scope of China's 12th five-year plan. Meanwhile, the total annual industrial production value of the steel industry in Shaanxi is expected to reach RMB 60 billion ($9.52 billion) by 2015.
In addition, Shaanxi Province is also targeting total iron ore reserves of 756 million mt by 2015. In order to optimize the competitiveness of the local steel industry, the Shaanxi authorities plan to build two steel bases in the province, at Hancheng and Hanzhong. By 2015, annual steel pipe production capacity in Shaanxi is expected to reach 3 million mt, with a total industrial output value of RMB 20 billion ($3.17 billion).