Baosteel Zhanjiang sets development goals for 2017

Baosteel Zhanjiang Iron & Steel Co's annual output is expected to hit 8.23 million tons of molten iron and 8.4 million tons of molten steel in 2017. The predictions come after recent breakthroughs in project quality and construction speed.

Established by Baosteel Group Corporation and the Zhanjiang government in Donghai Island in 2011, Baosteel Zhanjiang has dedicated itself to the iron and steel industry restructure and innovation of development model.

"This year is the first year that our company will come into full operation," said Yu Zuda, vice-general manager of Baosteel Zhanjiang. "It is also the year for us to improve our brand, and improve our management on all levels."

Another target is to catch up with industry leaders, by reducing production costs, and increasing labor and collaboration efficiency.

Yu said that Baosteel Zhanjiang will focus on the civilian use, especially on car panel manufacturing. According to statistics, about 30 percent of steel demand will come from the automotive industry in the future.

It has taken Baosteel just three years to complete the basic construction of its Zhanjiang project, with its No 1 blast furnace built in 2013 and No 2 in 2016. Nearly 400 varieties in nine categories, including alloy steel and automobile structural steel, have been produced and sold worldwide to countries such as India and Spain.

Of the total 50 billion yuan ($7.3 billion) investment, 12.8 percent has been put into environmental protection, which is the largest of any domestic iron and steel producer.

Yu said Baosteel will shoulder more responsibility for green and clean production by using more recycled resources.

(Source: China Daily)