Handan Iron & Steel wins approval for 4.6m tpy greenfield plant

摘要

Handan Iron & Steel (Hangang) has been given X approval for a new 4.6 million tpy greenfield plant by the National Development & Reform Commission (NDRC) on December 31. Hangang, which produced 7.4 million tonnes of crude steel in 2005, won approval for the 19.3 billion yuan (2.39 billion dollars) plan despite the government's stance on reducing steelmaking capacity as set out in the steel policy issued in July 2005. Hangang had been waiting for the approval of the NDRC since February 2005 on its plan to shrink its steel production at Its existing plants and to establish a new greenfield production base in the west of Fuxing district by 2010. The new base will 8-million tpy capacity focusing on flat steel products instead of construction steel.