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Shandong Province issues plans for restructuring of local steel industry
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Thursday, 08 Nov 2012
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The government of China's Shandong Province has issued details of its plans for the merging and reorganization of steel producers in the province.

Accordingly, the provincial government plans to continue to promote the expansion of leading local steel group Shandong Iron and Steel Group in the period up to 2015. At the same time, the government will foster the development of five other main steel groups based at the cities of Zibo, Weifang, Laiwu, Linyi and Binzhou. In addition, by 2015 the annual aggregate steel production capacity of the province will be limited to below 50 million tonnes.

Currently, the 21 steelmakers in Shandong Province have a combined annual iron making capacity of 59.65 million tonnes and a combined annual steelmaking capacity of 63.07 million tonnes.

Source - Visit www.steelorbis.com for more

(www.steelguru.com)

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