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Guangdong provincial government shares 10 percent, the main project intends to start building

As the main battlefield of the company "second pioneering", Baosteel is more and more resources and funding to Zhanjiang in the Pearl River Delta and in the frontier of Xinjiang tilt.

In recent days a Zhangjiang (Shanghai) Investment conference held in Shanghai, Baosteel Zhanjiang Iron & Steel Co., Ltd. (hereinafter referred to as "Zhanjiang Iron and Steel"), general manager of Sheng Hung revealed that the main project of Zhanjiang steel project at full capacity during the year construction.

The reporter yesterday learned from the Baosteel a management, to optimize the adjustment programs of the Zhanjiang project, Zhanjiang steel registered capital will be 80 billion to 20 billion, and the introduction of the Guangdong provincial government shares 10 percent. In addition, in order to integrate an existing iron and steel enterprises in Guangdong as well as to rationalize and Nansha steel project, Baosteel will pay more "real money".

"At present, the Zhanjiang project has been completed the centralized procurement, program planning, and targeted technical negotiations with the domestic and foreign equipment suppliers. The same time, online bidding in the first batch of 122 devices representations and tender plan has been completed, even cast host, hot rolling heating furnace and the main rolling line, cold rolling mill and welding machine and other equipment are already online. "Sheng redder said.

The next phase of the Zhanjiang project will carry out a preliminary design, working drawings and design work, 300,000 tons of bulk cargo wharf will be completed before the end of December the construction of hydraulic structures. "Sheng is more red revealed that, at present, to meet the conditions of the site office, living Factory East production supporting projects now under construction, the main part of the project also plans to start full construction during the year.

Baosteel, however, a management frankly stated that the reporter in conjunction with the adjustment of steel production capacity of Baosteel Group Shanghai region, Zhanjiang steel construction and implementation of the program has yet to be stable, the product structure may be combined with structural adjustment in Shanghai to optimize .

The management revealed that the optimal adjustment of the above programs are determined in the third quarter, the plan was finalized, the registered capital of Zhanjiang Iron and Steel also plans increased from the current 8 billion to 20 billion, the future, Guangdong Province will account for 10% stake in Zhanjiang steel , the future does not rule out the introduction of more investors.

This reporter has learned that the reason for the introduction of the shares of Guangdong Province, with Baosteel Zhanjiang project approved the reorganization and integration of commitment to existing steel mills in Guangdong.

Zhanjiang Iron & Steel is a wholly-owned subsidiary of Baosteel Group, was established on April 18 last year, in April of that year, Baosteel proposed to modify the reorganization of a letter of intent was signed in 2006 with the SASAC of Guangdong Province and Guangzhou City, through the transfer of production capacity, to help settle workers, acquisition of Zhujiang Iron and Steel part of the equipment in a disguised form of recombinant Guangzhou Iron and Steel Group, Shaoguan Iron & Steel Group of Guangdong Province SASAC put 51% of the shares allocated to the Baosteel Group, and will receive a 10% stake in Zhanjiang steel project, Baosteel is also technological transformation for the placement of employees and Shaoguan Iron and Steel invested more than 5 billion yuan.