Shanxi Province based Chinese steel producer Taiyuan Iron and Steel Group has announced that it plans to invest CNY 100 billion in development programs during the government's 12th Five Year Plan period (2011-15).

Mr Li Xiaobo president of Taiyuan Steel said that in 2011, the stainless steel production of the group is expected to rise to 3 million tonnes.

Accordingly, the group also targeted a self-sufficiency ratio of 50% in main strategic resources such as iron ore, nickel, chrome and coal.

(Sourced from Steel Orbis)
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