Baosteel to start test production at its upcoming aluminium project in June 2020
China’s largest listed steel producer Baoshan Iron and Steel Co. Ltd. (Baosteel) will reportedly start test production at its upcoming aluminium project in Henan province from mid-2020.
The first phase of Baosteel’s aluminium alloy casting and deep processing plant will have a capacity of 300,000 tonnes per year and around 6.14 billion yuan of investment will be required for the project, according to Sanmenxia City Urban and Rural Integration Demonstration Zone.
Baosteel had earlier shared its strategic intention to diversify its business into the automotive aluminium sector. Last year, the company had even taken a stake in Nanjing Yunhai Special Metals, which also makes aluminium alloy.
Per the report, the construction of the Baosteel’s aluminium plant is expected to be completed by June 2020. The production is likely to be on trial as well by the said period of time.
The project is aiming to have an annual sales revenue of 6.08 billion yuan once launched, Sanmenxia’s statement added. Its total planned capacity is 600,000 tonnes per year.
However, Baosteel did not immediately respond to Reuters’ request for comment.
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