Xinjiang Uyghur Autonomous Region based Chinese steelmaker Bayi Iron and Steel Company, a subsidiary of major Chinese steel group Baosteel has announced that in 2011 it sold 6.4930 million tonnes of finished steel, with 5.173 million tonnes of this volume sold locally in Xinjiang accounting for about 80% of total finished steel sales. In 2010, Bayi Steel's annual crude steel output capacity reached 7 million tonnes.

In the 2011 to 2015 period, investment from Baosteel in Bayi Steel will reach CNY 30 billion while by 2015 Bayi Steel's overall annual finished steel output capacity is expected to approach 15 million tonnes.

Accordingly, by 2015 Bayi Steel will have an annual finished steel output capacity of 10 million tonnes at its main facilities with an additional 3 million tonnes finished steel production capacity at its Baicheng facilities and a further 2 million tonnes at the joint venture to be established with Shougang Group's subsidiary Yili Iron and Steel Company.

(Sourced from Steel Orbis)
Visit www.steelorbis.com for more