Baos­teel moves to­ward a greener fu­ture

China Daily (Canada) - - SHANGHAI - By WANG YING in Shanghai wang_y­ing@chi­

Baoshan Iron and Steel Co, one of China’s largest steel­mak­ers, re­cently an­nounced that it would sig­nif­i­cantly re­duce its ca­pac­ity as part of its ef­forts to be­come an ur­ban steel maker that pro­duces lesser emis­sions.

“Baos­teel has made a thor­ough anal­y­sis on our re­sources, mar­kets, prod­ucts and pro­duc­tion lines and have de­cided to cut the group’s ca­pac­ity by 9.2 mil­lion tons be­tween 2016 and 2018. The de­ci­sion is in line with State-owned enterprises’ goal and re­quire­ment to al­le­vi­ate the over­ca­pac­ity of the steel in­dus­try,” said Chen Derong, pres­i­dent of Shanghai Baos­teel Group Corp.

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