Masteel revealed that National Development and Reform Commission has principally agreed to the plan of project relocation under environmental protection.
The announcement shows that the headquarters of Masteel would own 13.35 million tonnes of iron-making capacity, 15 million tonnes of steel-making capacity, 14.08 million tonnes of steel products capacity. And Masteel Hefei would have a steel deep-processing capacity of 2.55 million tonnes.
Meanwhile, Masteel Hefei would wash out 1.9 million tonnes of iron-making capacity and 2 million tonnes of steel-making capacity, and Masteel headquarters would shut down 900,000 tonnes of iron-making capacity and 1.4 million tonnes of steel making capacity.
The total investment amounts to CNY 20.788 billion with CNY 18.722 billion used for constructions.