China’s Shanxi province plans to invest CNY32.3bn ($4.61bn) to upgrade and transform 33 iron and steelmakers through an action plan for the province. Authorities strive to complete the investment of CNY10bn in this year.
Among the major projects covered under the province’s 2020 Action plan for the Transformation and Upgrading of the Iron and Steel Industry include:
* Promotion of TISCO group’s integration of upstream and downstream stainless steel industries
* Acceleration of Jinnan Steel’s capacity replacement through the integration of Liheng Steel and Xingyuan Iron and Steel.
* Encourage the creation of a smart industrial cluster of 10mn mt steel raw materials in Fanshi and Daixian.
* Support leading companies including Taigang Group, Gaoyi Steel, Shanxi Jianlong, Jingang Group, Jinnan Steel, Shanxi Jianbang, Zhongyang Steel to expand their scale and technological advantages within and outside Shanxi province.
* Focus on setting up five differentiated special steel industrial clusters of Yuncheng Automobile Steel, Taiyuan Stainless Steel, Linfen Steel, Jincheng Equipment Steel, and Luliang Mining Steel and extend deep processing industrial chains in the province.
* Create innovative ecosystem for special steel industry clusters in Shanxi Province
* Promote research and development of high-end stainless steel, alloy steel, high-speed wheel axles and promote the application of carbon structural steel and other materials in the province to support steel enterprises.