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Hebei Iron and Steel plans to invest 36.8 billion yuan to comprehensively transform and upgrade

Sep 25, 2019

During the “Twelfth Five-Year Plan” period, Hebei Iron and Steel Group will fully implement the transformation and upgrading strategy and invest 36.8 billion yuan for structural optimization and industrial upgrading. This is the news from the Hebei Steel Group Annual Work Conference held on December 30th.

It is understood that this year, Hebei Iron and Steel Group has further enhanced the marketing synergy based on the diversification of the increase in profits and expenditures by 22.3 billion yuan. Through centralized procurement of bulk raw materials, unified sales of steel products and unified logistics optimization, the marketing synergies unrelated to market factors in the first 11 months were 3.026 billion yuan. They continue to improve the innovation system and their independent innovation capabilities are constantly enhanced. Successfully developed more than 100 new products such as ultra deep drawing IF steel DC07 for automobile and O5 board and X100 pipeline steel for high surface requirements; 14 products won the "Golden Cup Award" for the physical quality of metallurgical products, and 12 products won the "metallurgical industry" “Quality Excellence Award”; 216 patent applications for the year, 24 provincial and above science and technology awards, 14 key projects of production, education and research have been completed and applied to production, and 10 internal cooperative research and development projects have achieved initial results.

 At the same time, Hebei Iron and Steel Group will implement the “all-industry chain” optimization and upgrading strategy. By the end of the “Twelfth Five-Year Plan”, Hebei Iron and Steel Group will form 35 million tons of iron concentrate powder production capacity, and the self-sufficiency rate of iron concentrate powder will reach 40%; build deep processing bases for Tangshan, Handan, Hengshui and Qingdao; improve capital operation and international operation. Ability to focus on the development of related industries such as financial services, modern logistics, and equipment manufacturing. By the end of the “Twelfth Five-Year Plan”, the non-steel industry segment's operating income reached 140 billion yuan.

During the “Twelfth Five-Year Plan” period, Hebei Iron and Steel Group will also invest 5.3 billion yuan in special funds to implement energy-saving, environmentally-friendly and efficient transformation.https://www.chamferingmachinechina.com/