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Jiangsu Province will achieve the annual steel production capacity to target tasks

The end of October before the province will achieve the annual steel production capacity to target tasks
"3.9 million tons" completed two months in advance
With Xin Ruite Steel Co., Ltd. two 50 tons of steel-making electric furnace storage and related equipment removal, our province has 100 million tons of steel production capacity to be reduced. According to this schedule, as the steel production capacity ranks second in the country's steel industry to key production provinces, by the end of this month, the province will be completed ahead of schedule 3.9 million tons of steel to production tasks.
There are 49 iron and steel enterprises above designated size in our province, 104 million tons of iron making capacity and 132 million tons of steel making capacity, which are basically private enterprises. Since the first half of steel prices rebounded, which the steel industry to produce a great impact. There are some steel mills because of concern about the issue of subsidies related to production capacity has always been on the sidelines. Zhao Zhiming, deputy director of the Provincial Development and Reform Commission, said the debt problem is difficult to go to a production capacity. According to statistics, according to five years out of 17.5 million tons of steel production capacity estimates, the province will involve the total debt size of 240 billion yuan, the debt structure is quite complex, involving bank loans, debt financing, private lending, fund raising workers, , Prone to systemic financial risks.
"Thirteen Five" period, the province will reduce crude steel production capacity 17.5 million tons, 2018 by the end of the year to complete the total progress of 70%. In order to ensure the completion of the task, the province this year, iron and steel pressure reduction targets to four cities in the four companies and the corresponding equipment, in addition to Changzhou Xin Ruite Steel Co., Ltd., Taizhou Hualing tin steel 100 tons of 100 tons of electric furnace 1 million tons refining Steel production capacity, Nantong East Iron and Steel 2 40 tons of furnace 800,000 tons of steelmaking capacity also sealed the smelting equipment. The province also drafted the "Jiangsu steel industry to resolve the excess capacity to achieve the implementation of the views of the development," from the increase award complement efforts to properly divert workers to support re-employment, employment assistance to help strengthen social security policies and other measures to address We should improve the financial policies and support the banking institutions to use market-oriented measures to properly handle corporate debts and bad assets of banks. We will try to promote the securitization of non-performing assets and support enterprises and creditors to settle their disputes in accordance with the law, according to the law. To solve the loss of assets such as the withdrawal of corporate debt disposal.
"Can not because of overcapacity, that there is no hope in this industry." Sha Steel Group, the province's largest steel company chairman Shen Wenrong said. Sha Steel Group 5800m3 blast furnace is the world's largest blast furnace, Xingcheng Special Steel is the world's largest single steel production enterprises, Heavenly International is Asia's largest tool steel producer, 5m wide plate, 1450mm hot-rolled coil and other metallurgical Equipment level reached the international advanced level. At present, the proportion of excellent steel in our province is 60%, the province will use these advantages to promote mergers and acquisitions of iron and steel enterprises. It is understood that the "transformation and development of iron and steel enterprises in Jiangsu Province ideas and programs" are being prepared.
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