September 08, 2008

Baosteel Special Steel eliminates 1.5 million tonnes of capacity

It is reported that Baosteel Special Steel Branch shut down its old No 8 electric furnace built in 1959 at No 2 Steel Works on January 20th 2008. As a result, the branch has eliminated all 1.5 million tonnes of outdated steel capacity.

In late 1990s, the special steel branch speeded up to eliminate obsolete steel capacity. For example, 200,000 tonnes per year former No 1 Steel Works was closed in 2000 and 1 million tonnes per year cupola was entirely eliminated in 2004. Meanwhile, the company launched a series of world class new projects including stainless long products, Pudong Steel’s relocation and continuous casting.

Since 2000 Baosteel, the company has invested CNY 3.2 billion on environmental protection among 22 new projects. In 2007, its emissions of wastewater, COD, oil, dust and SO2 were reduced by 90% on average compared to the year 2000.