Sunday, 13 Feb 2011
Shanxi Daily quoted provincial Economic and Information Commission saying that Lvliang, a city sited in central Shanxi Province, is planning to build a 10 million tonne steel base before 2013 through consolidation and regrouping of local steel mills.
Two steps are set to build the base.
The first step is to unite Shanxi Zhongyang Iron & Steel Co Ltd and Wenshui Haiwei Steel Co Ltd, the two major steel mills of the city into a group named Lvliang Iron & Steel Group.
And afterwards, the group will act as the main body to consolidate the other local steel mills as well as upstream and downstream related enterprises through acquisition or equity exchange with a view to forging an integrated 10 million tonne steel base.
The base, once set up will be injected effort to improve its overall equipment standard through elimination of backward capacity and aimed at arriving at advanced level in China by 2015 making a real resource economical, environment-friendly, science and technology-oriented distinctive steel base.
(Sourced from Shanxi Daily)
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