Fujian enterprise participates in China's first trans-provincial capacity replacement of iron and steel
2017-08-10 15:59:15 [Print]
According to the requirement of Printing and Distributing Notification on Conducting Replacement of Excessive Capacity of Some Industries released by Ministry of Industry and Information Technology of China, Tsingtuo Group obtained formal approval about capacity replacement from Fujian Provincial Commission of Economy and Information Technology on August 7th after the agreement of the provincial government. It’s reported that Tsingtuo Group of Fujian and Aoyu Iron and Steel Co., Ltd. of Baoding, Hebei, conduct trans-provincial cooperation on capacity replacement of iron and steel, which is also the first trans-provincial capacity replacement among China.
It’s introduced that Tsingtuo Group and Aoyu Iron and Steel signed Agreement on Capacity Transferring of Smelting Iron and Steel as early as March. After the capacity replacement is finished, the construction of 6 projects of Tsingtuo Group including 400 series of stainless steel project of 900,000tpy and projects of series of industrial chains with total investment of RMB8.2 billion will be stimulated substantially. These projects will probably raise RMB30 billion of production value after going into production, making stainless steel industry of Ningde step toward the target of industrial cluster of RMB100 billion .
Stainless steel industry is not only the largest industrial cluster of Ningde, but also one of industrial clusters of RMB100 billion created by Ningde. Statistics indicated that stainless steel industry in Ningde led by Tsingtuo Group realized production values of RMB62.667 billion in 2016, up by 25.5% YOY and accounting for 19.7% of the total of enterprises above designated scales of this city. After the capacity replacement, stainless steel capacity of Ningde will account for one tenth of the global total and Ningde will become the largest production and deep-processing base for stainless steel in China or even in the world.
“After the capacity replacement, Tsingtuo Group will prepare to build project of 400 series of stainless steel new material and a series of projects of related industrial chain, which will be of great significance in stimulating transformation, structure optimization and quality improvement of kinetic energy in Ningde,” a officer from Ningde Economy and Information Commission state.
It’s introduced that Tsingtuo Group and Aoyu Iron and Steel signed Agreement on Capacity Transferring of Smelting Iron and Steel as early as March. After the capacity replacement is finished, the construction of 6 projects of Tsingtuo Group including 400 series of stainless steel project of 900,000tpy and projects of series of industrial chains with total investment of RMB8.2 billion will be stimulated substantially. These projects will probably raise RMB30 billion of production value after going into production, making stainless steel industry of Ningde step toward the target of industrial cluster of RMB100 billion .
Stainless steel industry is not only the largest industrial cluster of Ningde, but also one of industrial clusters of RMB100 billion created by Ningde. Statistics indicated that stainless steel industry in Ningde led by Tsingtuo Group realized production values of RMB62.667 billion in 2016, up by 25.5% YOY and accounting for 19.7% of the total of enterprises above designated scales of this city. After the capacity replacement, stainless steel capacity of Ningde will account for one tenth of the global total and Ningde will become the largest production and deep-processing base for stainless steel in China or even in the world.
“After the capacity replacement, Tsingtuo Group will prepare to build project of 400 series of stainless steel new material and a series of projects of related industrial chain, which will be of great significance in stimulating transformation, structure optimization and quality improvement of kinetic energy in Ningde,” a officer from Ningde Economy and Information Commission state.
