It is reported that Chinese Xilin Steel will try to foster a steel production capability of 10 million tonnes by the end of 2015 through a CNY 10.5 billion investment plan.

The company has formed a plan to achieve the targets. The focus will be promoting technological renovations and exploring ways to identify areas for both potential growth, energy conservation and emissions reduction.

It will also continue to integrate superior resources through mergers and reorganization. This year the company merged with Harbin Special Steel in the form of lease payments to establish Xigang Group Harbin Xing'an Metal Product Company.

Company is expected to build a special steel and high quality steel production base capable of producing 500000 tonnes per year of quality pig iron and 1 million tonnes of special steel covering high alloy metal, wire rod and ball flat steel for shipbuilding.

(Sourced from www.indiainfoline.com)