November 20, 2008

NDRC approves WISCO Kunming Caopu Project

It is reported that WISCO’s Kunming Steel has received the approval about the construction of Caopu project from China National Development & Reform Commission and the company would develop the project in Caopu new area.

Caopu Project is an important result of strategic mergers of WISCO and Kungang. The aim is to form a key production base of CR silicon steel, auto sheet and high quality engineer structure steel in China.

It is expected that Kungang should produce 6 million tonnes of crude steel, 5.75 million tonnes of pig iron and 6.3 million tonnes of finished steel products in this year.

Sales income may be more than CNY 30billion, while total profit could be over CNY 1.5billion, both of which would make a new high in history.