Baoshan Eyeing Steel Structure Market
SHANGHAI, January 27 (Xinhua) -- China's steel giant, the Baoshan Iron and Steel Group Co., Friday set up an entity specializing in steel structure for construction projects as part of its plan to become the leader in this market in China.According to the plan, the company will produce 150,000 tons of steel structure each year within the coming five years.
The newly-established company will engage in steel structure design, installation and production, and project contracting with a planned business volume of 1.5 billion yuan-worth (nearly 200 million U.S. dollars).
At the moment, steel structure production accounts for only one to 1.5 percent of the country's total steel production.
China has encouraged the use of steel structure in construction projects since becoming the world's biggest iron and steel producer.
The Baoshan Iron and Steel Group Co. is the leading producer of advanced steel products in China.
Enditem