Xie Qihua: Made of Steel
(Beijing Review)
Updated: 2006-01-07 09:56 At present, there are two opportunities for Baosteel--building a joint-stock
plant in Brazil and a new plant in Zhanjiang, Guangdong Province.
Xie said that the investigation into building the joint-stock plant in Brazil
with CVRD has been basically completed and the item suggestion report has been
authorized by the Central Government. At present, the Brazilian side is
researching local environment, land and the project status. "Our original plan
is to put in 1.5 billion yuan ($187.03 million) but we expect this to increase
slightly," Xie said.
At the same time, Xie said the plan to build a plant in Zhanjiang has not
received authorization from the government, but it is in accordance with the
requirement of encouraging steel corporations to invest in coastal areas, as
laid down in the New Rules for the Steel Sector, so she is not unduly worried
about it. Xie also said that the Zhanjiang plan hopes to combine the
reorganization and alteration of such old Guangdong enterprises as Shaoguan Iron
and Steel and Guangzhou Iron and Steel.
(For more biz stories, please visit Industry Updates)
|
