New plate mill to propel Chongqing Steel to major SBQ supplier

Saturday, 26 Sep 2009

It is reported that Chongqing Iron & Steel Group 4100mm wide and thick steel plate project part of its location transfer project for environment protection successfully panned out with the first plate recently.

As per report, the smooth progress of the project is significant for the environment protection of Chongqing main district, the upgrade of the steel industry of the city and also the development of the steel group.

Mr Donglin president of Chongqing Iron & Steel Group said the 4100mm wide and thick plate project boasts the world most advanced rolling techniques and equipments, capable of yielding 1.8 million tonnes of plate annually and greatly raising the competitiveness of its knock out products.

Mr Dong said by the end of the next year, also its anniversary for 120 years the CNY 23 billion funded first phase of the transfer project will be comprehensively accomplished. By that time, the steel group will eye an annual capacity of 6.5 million tonnes and sales revenue of CNY 35 billion and will rank first as the biggest steel maker in Southwest China leaving Panzhihua Iron & Steel Group behind.

He said that the Group is scheming to buy an ore mine in Australia for sustainable supply of the ingredient. The targeted mine owns a proved workable reserve of 300 million tonnes and remote reserve of 3 billion tonnes with estimated investment of around CNY 10 billion.

This project, together with the existing 2700mm plate line and the 1780mm HR product line slated to operate next April will hopefully make the Group the largest shipbuilding steel production base in China with quality plate products for shipbuilding hitting 3.5 million tonnes.