无码中文字幕一Av王,91亚洲精品无码,日韩人妻有码精品专区,911亚洲精选国产青草衣衣衣

USEUROPEAFRICAASIA 中文雙語Fran?ais
Business
Home / Business / Companies

Baosteel to construct new branch in Zhanjiang

By XIE YU | chinadaily.com.cn | Updated: 2013-04-25 15:18

China's Baoshan Iron & Steel (Baosteel), the country's largest listed steelmaker, will start construction on its new branch in Zhanjiang, Guangdong province after cutting the budget by 40 percent, Shanghai-based China Business News reported on Thursday.

Investment in Baosteel's Zhanjiang project has been cut to 41.5 billion yuan ($6.65 billion) from 69.68 billion yuan, CBN said. The project was approved by the National Development and Reform Commission in May who viewed it as an important step by Baosteel to transfer production to the coastal region to save costs.

"Our target is to build the Zhanjiang branch into a carbon steel plate factory with the highest efficiency in world," Ma was quoted as saying.

He said production in Zhanjiang will start in 2015. Baosteel's manufacturing base in Shanghai will shift to high-end manufacturing to meet the need for home appliances.

Ma said the company is confident that the Zhanjiang branch will be profitable six months after production starts.

The company posted a 41 percent rise in 2012 net profit, helped by a one-off sale of assets. Net profit was 10.39 billion yuan, compared with 7.36 billion yuan a year earlier, Baosteel said in a filing with the Shanghai Stock Exchange in late March.

Most Viewed in 24 Hours
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US