It is reported that Shanxi steel industrial consolidation plan is going to be issued in the coming few days.
As per report, a large scaled drive for enterprise merger and acquisition will be carried out and by 2015 and there will be two steel titans in local to be formed, Taiyuan Iron and Steel Group and Shougang Changzhi Iron and Steel Group.
At present, five steel bases have been established in Shanxi, namely Taiyuan, Southeast Shanxi area, Yuncheng, Linfen and Lvliang. TISCO and Shougang Changzhi will take the major role in this regrouping campaign, with the former chiefly responsible for consolidation of steel mills in Taiyuan, Linfen, Yuncheng and Lvliang and the latter for those in Southeast Shanxi area.
According to the slated schedule, TISCO will complete the regrouping in Taiyuan and Linfen areas by 2013 and that in Yuncheng and Lvliang by 2015. Shougang Changzhi will finish its consolidation target in Changzhi by 2013 and of Fusheng Steel by 2015.
By 2015, as per the plan TISCO will expand its production capacity to 40 million tonnes and thus lift its proportion of contribution to 80% in Shanxi Province. Its annual business income will reach over CNY 200 billion and it will be listed in the first eights of China’s steel enterprises for its comprehensive strength and become a world-class competitive large steel Group. Shougang Changzhi will develop into a group capable of producing 10mln tonnes a year and raise its contribution to 20% in Shanxi Province.
As per report, a large scaled drive for enterprise merger and acquisition will be carried out and by 2015 and there will be two steel titans in local to be formed, Taiyuan Iron and Steel Group and Shougang Changzhi Iron and Steel Group.
At present, five steel bases have been established in Shanxi, namely Taiyuan, Southeast Shanxi area, Yuncheng, Linfen and Lvliang. TISCO and Shougang Changzhi will take the major role in this regrouping campaign, with the former chiefly responsible for consolidation of steel mills in Taiyuan, Linfen, Yuncheng and Lvliang and the latter for those in Southeast Shanxi area.
According to the slated schedule, TISCO will complete the regrouping in Taiyuan and Linfen areas by 2013 and that in Yuncheng and Lvliang by 2015. Shougang Changzhi will finish its consolidation target in Changzhi by 2013 and of Fusheng Steel by 2015.
By 2015, as per the plan TISCO will expand its production capacity to 40 million tonnes and thus lift its proportion of contribution to 80% in Shanxi Province. Its annual business income will reach over CNY 200 billion and it will be listed in the first eights of China’s steel enterprises for its comprehensive strength and become a world-class competitive large steel Group. Shougang Changzhi will develop into a group capable of producing 10mln tonnes a year and raise its contribution to 20% in Shanxi Province.
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