Pangang Chengdu aims for 70% value added products
Posted:2008-11-19|Source:internet|No. of Views:
According to Mr Li shanji vice-president of Pangang Group Chengdu Iron & Steel Co Ltd "Through a set of technologic renovations on existing production techniques and equipments, we are ambitious to send the proportion of high value-added steel products to over 70% among the total product mix next year."
As learned, the special steel pipe covers around 70% in the mill's products mix; of which steel pipe export reached 0.3 million tonnes or nearly 28% of the total. And the mill may achieve USD 0.3 billion of export value this year. Despite the influences of rainy & snowy weather and 5.12 earthquakes, the major business incomings have recorded at some CNY 10.25 billion by the end of October this year, the first CNY 10 billion -worth enterprise in Chengdu, Sichuan province.
In 2008, the company's has launched new projects including 159mm conti-rolling pipe unit oil pipe processing line, the construction of No.3 plant and the reconstruction of A-R rolling mills, with the investment totaling CNY 1.01 billion.
The company will also carry out a slew of construction and technical innovation projects next year with the total investment of CNY 1.5 billion. One official of the mill said "All our efforts are to achieve the 70% ratio of high value-added products."
