China’s Anyang Iron and Steel has forecasted its crude steel output at 9.1mn mt and finished steel production at 9.4mn mt in 2021. The company has also set its sales revenue at CNY39.5bn ($6.1bn), up from targeted revenue of CNY28.1bn in 2020.
The steelmaker has also doubled its investment forecast for 2021 to CNY9.5bn from CNY4.7bn last year and is planning operational changes to achieve a 0.4pc cost reduction across its product segments this year.
The company indicated that this year its investments would include the costs of 151 projects of which 102 are slated to commence in the first phase at a cost of CNY3.2bn. The other 49 projects are estimated to have a cumulative planned investment of CNY6.3bn of which CNY4.5bn will be allotted to 14 projects at its subsidiary, Zhoukou, towards blast furnace, steelmaking process, and continuous casting and bar segments’ upgrades.
Anyang also plans to spend CNY1.5bn in the coking project at Zhoukou along with CNY100mn in a lime kiln project, CNY103.5mn for road repairs, CNY100mn on green initiatives, and CNY106.6mn in upgrading the production and living facilities, and machine repair warehouse.
Other investments include CNY201.5mn towards the third phase of Anyang’s plant construction project plan, CNY62.2mn in a new refining furnace project, and CNY60.6mn for the coke oven flue gas desulphurization and denitrification plant expansion project.
The company also plans to spend CNY567mn to upgrade the gas recovery and power generation process at its plants and CNY185mn in the second phase of the deep treatment of flue gas from sintering equipment. The sintering machine’s renovation is estimated at CNY179.6mn with the upgrade of the blast furnace estimated at CNY160.6mn.
Anyang produces plates, construction products, profiles, and billet.