May.12 MetalBiz¡ªCold-rolled sheet production line of Shougang put into production on May. 10 in Shunyi district of Beijing. And the total investment of the project was 6.4 billion Yuan and the total capacity of 1.50 million tons.
Board of Shougang Zhu Jimin introduced that the project gained approval by the State Council. The total area of the project was 730 thousand square meters. The project began its foundation laying on July.2, 2007 with the designed capacity of 1.50 million tons, among which, 800 thousand tons for cold-rolled annealing plate coil and 700 thousand tons for hot rolled galvanized plate coil.
It is learned the Shougang (000959) issued 2.0 billion convertible bonds in 2003 and all used for the projects construction. The projects were mainly focused on high quality automobile plate, steel sheet used for construction etc.
Zhu said the project putting into production this time will put new vigor for the development of the company and also marked the industry upgrading and structural adjustment of the company. |