On August 20, the state owned assets supervision and Administration Commission of Liaoning Province transferred 51% of the equity of Benxi Steel to Angang free of charge, and Benxi Steel became a holding subsidiary of Angang.
After the reorganization, Angang's crude steel production capacity will reach 63 million tons and its operating revenue will reach 300 billion yuan, ranking second in China and third in the world. The voice and dominance of the industry will continue to strengthen, strive to build a "steel aircraft carrier" in Northeast China, and form a pattern of "BaoWu in the South and Angang in the north".
Benxi steel is the largest provincial state-owned enterprise in Liaoning Province. It is rich in mineral resources and first-class process equipment. It has the world's widest hot tandem mill and world-class cold rolling production line, with a crude steel production capacity of 20 million tons. Tan Chengxu, chairman of Angang Group, said that Angang's restructuring of Benxi steel is conducive to improving the concentration of the iron and steel industry, promoting the layout optimization and structural adjustment of the iron and steel industry, maintaining the safety and stability of the industrial chain and supply chain of the iron and steel industry, and promoting the high-quality development of the iron and steel industry.
Post time: Aug-23-2021