China's largest steel maker plans to quadruple capacity to 80m tonnes
Thursday, 6 September 2007
SHANGHAI, Sept 5 (AFP): China's largest steel maker plans to nearly quadruple capacity to 80 million tonnes by 2012, making it the world's second largest producer, state press reported today.
Mainly state-owned Baosteel, which puts out about 23 million tonnes of steel a year, plans to expand in China and overseas through mergers and acquisitions, the China Daily reported, citing an internal company newsletter.
The world's fifth largest steel group also said it hopes to boost sales to more than 50 billion dollars a year.
Mainly state-owned Baosteel, which puts out about 23 million tonnes of steel a year, plans to expand in China and overseas through mergers and acquisitions, the China Daily reported, citing an internal company newsletter.
The world's fifth largest steel group also said it hopes to boost sales to more than 50 billion dollars a year.