Magang Group completes de-capacity three-year plan
2018-10-30 17:40:46 [Print]
On October 29th, Magang Group completely finished the three-year plan of reducing capacity of iron and steel and the overall equipment has really stepped up to a large and modern level.
Over the past three years, Magang Group has eliminated 2.24 million tons of iron-making capacity and 2.69 million tons of steel-making capacity, and distributed 29,204 employees. Its annual capacity of pig iron and crude steel decreased from 22.14 million tons and 26.44 million tons in late 2015 to 18.3 million tons and 21.71 million tons, down by 17.34% and 17.89% respectively.
Over the past three years, Magang Group has eliminated 2.24 million tons of iron-making capacity and 2.69 million tons of steel-making capacity, and distributed 29,204 employees. Its annual capacity of pig iron and crude steel decreased from 22.14 million tons and 26.44 million tons in late 2015 to 18.3 million tons and 21.71 million tons, down by 17.34% and 17.89% respectively.
