Expansion Plans
With the aim of further enhancing our leading position
in the domestic and international markets for special
steel, we are expanding our product range to include
plates as well as downstream finished products such as
seamless steel tubes.
A new special steel plate production line with an annual
capacity of 1.2 million tonnes is being constructed at
Jiangyin Xingcheng Special Steel, and is expected to be
completed in the second half of 2009. Main products
will include ship plate steel, steel used in marine
engineering, petroleum pipe line steel, and pressure
vessel steel used in the shipbuilding, marine
engineering, oil, petrochemical and machinery
manufacturing industries.
The market for medium plates has been growing rapidly
in China in recent years. There is strong demand for
high quality, high value added plates. This market
currently relies on imports, in particular pipe line steel,
ship plate and steel used in marine engineering and
machinery manufacturing. Therefore, the products
from this new line will be able to meet the demand for
similar products in China in the future.
In Xin Yegang, two new lines with total annual
production capacity of 630,000 tonnes of medium wall
seamless steel tubes are being constructed. Completion
is expected in the third quarter of 2009. Products from
the two lines are widely used in the energy,
petrochemical, coal and military industries.