Securities Daily's quoted Mr Chen Chuanping chairman of Taigang Stainless Steel Co during a shareholders meeting held in Taiyuan as saying that Chuanping expressed optimistic forecasting toward future development and disclosed the company is planning 7.5 million tonnes iron concentrate and 5 million tonnes steel capacity project.

Mr Chen said that the global demand for stainless steel products is on quick increase without a substitute in store. As a leading company in this line, Taigang Stainless boasts low cost, superior technical advantage and most complete production flow in the world. It has nearly 3 million tonnes stainless steel capacity already and targets 7.5 million tonnes iron concentrate and 5 million tonnes steel with further project, which is awaiting authority's approval. The company is reportedly upbeat on obtaining government's nod and pins great hope on the project for a leap.

Mr Chai Zhiyong GM of Taigang Stainless Steel said that Taigang Stainless plans future growth from such facets as further optimizing product mix, extending industrial chain, strengthening cooperation with partners and raw material suppliers. The top officials further introduced about collaboration with Tianjin Pipe Corporation, whose subsidiary is to build a JV with Taigang Stainless. The two parties schedule to launch co op in seamless steel pipe as well.