Jiangsu Province-based Chinese steel group Zhongtian Iron and Steel Group (Zhongtian Steel) has announced that for the current year it is targeting an output value of RMB 65 billion ($10 billion) and an operating revenue of RMB 80 billion ($13 billion).
In 2011, Zhongtian Steel's crude steel output exceeded 7.5 million mt, while its operating revenue reached RMB 62.653 billion ($9.949 billion), up 25 percent year on year. Its pre-tax profit for the year in question was RMB 1.7 billion ($268 million).
Meanwhile, Zhongtian Steel has also announced that it has signed a strategic cooperation agreement with Beijing-based Xuyang Coal and Chemical Co., regarding supply of coke in the three years from 2012 to 2014 inclusive.