August 28, 2008

Panzhihua Steel to invest in technical reforms

It is reported that Panzhihua Steel has confirmed a plan to invest CNY 6 billion to complete technical reforms on vanadium and titanium steel projects in 2008.

The mill completed fixed assets investment of CNY 4.07 billion in 2007, involving 100 meter rail surplus heat quenching production line at New Steel Vanadium’s rail plant, new RH vacuum treatment unit at steel making plant, new 150,000 tonnes per year OCTG production line at Panchenggang, relocation and upgrade of heat extending pipe machines and 159 continuous rolling pipe machines, new cleaning line for pipe billet and tailings treatment system at titanium concentrate plant.

In 2008, the mill will focus on technical reform on expanding vanadium products and building new lines, carry out expansion and reform on titanium concentrate and establish key projects like rutile titanium dioxide, sponge titanium and titanium products production lines. As far as steel is concerned, the mill will strengthen structural adjustment, implement reform on sintering system at New Steel Vanadium and relocations of No 3 and 4 coking ovens as well as build premium steel bases.