MAANSHAN STEEL PLANS TO RELOCATE 3m TPY STEEL UNIT

摘要

SINGAPORE - Maanshan Iron & Steel plans to relocate its 3 million tpy Magang (Hefei) Iron & Steel unit to its home base in Anhui province in a project that will cost 2 billion dollars, the South China Morning Post reported. The 15 billion yuan move will bring Magang Hefei, a former rival steelmaker that was recently acquired by Maanshan, closer to the company's main worksite in Maanshan city. Hefei city is about 120km from Maanshan. It will also better concentrate production in areas of strong demand, Maanshan Steel chairman Gu Jianguo told SCMP. Gu expects the relocation to begin in the second half of next year, subject to the approval of the National Development and Reform Commission.