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Last updated at: (Beijing Time) Monday, March 10, 2003

China to Build Biggest H-shape Steel Production Base

The government of the coastal city of Rizhao in east China's Shandong Province has signed contracts with two companies to build China's largest H-shape steel production base in five years, at total cost of nearly 20 billion yuan (2.4 billion US dollars).


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The government of the coastal city of Rizhao in east China's Shandong Province has signed contracts with two companies to build China's largest H-shape steel production base in five years, at total cost of nearly 20 billion yuan (2.4 billion US dollars).

The Rizhao Iron and Steel United Corporation is jointly funded by the Laiwu Iron and Steel Company and the Jinghua Chuangxin Company in north China's Hebei province.

H-shape steel is widely used in underground engineering, petrochemical and power supply areas, as well as making components for wide-span bridges, machinery equipment, vehicles, temporary anti-earthquake and fire-prevention facilities, and building ships.

Compared with houses built with concrete, those set up with H-shape steel have six percent more actual living space and a deadweight lowered by 20-30 percent.

The new company, located in the Rizhao Industrial Park, will cover an area of 12 square kilometers and is expected to have an annual production capacity of five million tons of H-shape steel after final completion of construction.

When the first phase of construction work, which will last 10 months and cost two billion yuan (244 million dollars), is completed, the company will have a production capacity of 1.2 million tons of steel.

The company will inject 15-20 percent of its total investment, or 3-4 billion yuan (365-487 million dollars) into environmental protection by introducing advanced environmentally-friendly measures for the industry.

Insiders say the establishment of the Rizhao company will boost the development of the building material, machinery, and mining industries in local and surrounding areas.


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