Jiangxi Province-based Chinese steel company Taiyuan Iron and Steel Corporation (Taiyuan Steel) has stated that for 2010 the company's total crude steel output is expected to reach 9.7 million mt, including 2.75 million mt of stainless steel. Meanwhile, the steelmaker's business revenues are expected to amount to RMB 111 billion ($16.6 billion) for the current year.
Taiyuan Steel also said that, by the end of the period of 12th five-year plan period (2011-2015), it plans to double its annual business revenues to around RMB 200 billion ($30 billion), while increasing its annual crude steel production capacity to 30 million mt.
Taiyuan Steel also added that it plans to speed up the construction of high quality special steel facilities, while it will continue to develop the mines it owns in China and will also try to secure more resources such as iron ore, chrome and nickel through overseas investments.