On January 5, Jiangsu Province-based Chinese steelmaker Shagang Group Co., Ltd, the largest private sector steelmaker in China, posted a near 20 percent year-on-year increase in sales revenue for 2010 to over RMB 170 billion ($25.6 billion), up from RMB 146.3 billion ($22 billion) registered in 2009.
In 2009, Shagang Group had produced 26.4 million mt of crude steel, while the crude steel output figure for 2010 has not been disclosed yet. Shagang Group also stated that it developed 50 grades of new high value-added steel products in 2010, of which 26 grades have already entered mass production.
In addition, in the first 11 months of 2010, Shagang Group generated over 3 billion kWh of electricity through recycling of resources, accounting for 30 percent of the company's total power consumption.