According to the Assets Supervision & Administration of Hebei Province, Hebei Steel Group's Tangshan Iron & Steel Corp has signed a 15 year strategic cooperation pact with Shanxi Meijin Group and Shanxi Guangda Coking Co.
Meijin Group ranks No 1 in terms of output and assets in Shanxi's privately owned enterprises. It boasts output of 5.4 million tonnes of coke and 10 million tonnes of coal washing capacity per annum. The group possesses its own coking coal mines with workable reserves of 2 billion tonnes.
Guangda Coking Co boasts 1.7 million tonnes per year of coke output and 2 million tonnes per year of coal washing capacity. Both companies have a strong transport capacity, and will allocate a special train for Tangshan Steel to guarantee its coke and coal supply.
Tangshan Steel has sped up the development of high value added products amidst the escalating raw materials prices. Annual output will reach 16 million tonnes with output capacity hitting 18 million tonnes in the near future. Its first half profits gained 50% over the same period last year.
Source: Steel Guru
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