Steel Giant's Third Phase Project is Fully OperationalThe third-phase construction of Baoshan Stock Co. Ltd., an industrial project that attracted the largest amount of investment in China, was fully operational Wednesday, December 20.The third-phase of construction, which has a total investment value of 62.3 billion yuan (US$7.5 billion), together with the first and second-phases of construction, will increase the company's designed annual production capability of steel to 11 million tons. The third-phase construction of Baoshan began in 1993. The company currently has an annual production capacity of 2.91 million tons of steel, with its major products utilized in automobiles, electronic appliances and cans, all of which can substitute imported products. Baoshan Stock Co. Ltd., after the completion of its first, second and third phase construction, will have an annual production capacity of 9.75 million tons of iron. |
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