Steel industry investment surges in China’s Fujian Province

Propelled by the Chinese government's policy supporting the development of the region west of Taiwan Strait, major Chinese steel producers including Shougang Group, Baosteel Group, Anshan Steel Group as well as some enterprises from Taiwan have started to show interest in the region.
 
During the ninth National People's Congress of the Chinese Communist Party in Fujian Province, the secretary of the Fujian provincial party committee Sun Chunlan said, "We are targeting a total steel industry output value of RMB 300 billion [$47.47 billion] by the end of the 12th five-year plan period [2011-15]. Additionally, we are planning to build an emerging steel base on the southeast coast and the largest stainless steel base in China."
 
Currently, construction has already started for Ningde steel base in Fujian Province, one of the largest steel projects in the province. It is expected that the project will have an annual production capacity of 12 million mt of crude steel.