SteelOrbis Shanghai
Hunan Province-based Xiangtan Iron & Steel Company (Xianggang) announced on October 16, its fiftieth anniversary, that it is aiming to reach an annual production capacity of 10 million mt in 2010.
Founded in 1958, Xianggang has played a very important role in the Chinese markets for wide and thick plate, wire rods and steel bars, ranking in the top five in China in terms of production scale for the abovementioned products. Xianggang is expected to produce six million mt of steel in 2008, which represents a new record high for the company.
In 1997 Xianggang achieved its production target of one million mt of steel annually, and has taken only ten years to make the leap in yearly production from one million mt to six million mt. More importantly, during the period in question, Xianggang has switched to being a producer of high quality steel, and has also developed production of wide and thick plates. Xianggang products are widely used in the shipbuilding sector and in petroleum projects.