On the morning of June 9, the Loudi Municipal Government of Hunan Province, the Administrative Committee of Loudi Economic Development Zone, Hualing Group, ArcelorMittal, Hunan Hualing Iron & Steel Co., Ltd. The signing of the board and the electrical steel project marks the official settlement of the automotive and electrical steel projects with a total investment of over 10 billion yuan. Deputy Secretary of the Provincial Party Committee, Mei Kebao, Vice President of ArcelorMittal Jean Paul Shule attended the signing ceremony and made a speech.
According to the agreement, Valin, Valin Steel and ArcelorMittal will co-finance a new Sino-foreign joint venture, Valin ArcelorMittal Automotive Sheets Co., Ltd., to produce and sell cold-rolled sheet metal. The annual production scale is 1.2 million tons of automotive panels; Valin and ArcelorMittal will co-finance a new Sino-foreign joint venture, Valin ArcelorMittal Electrical Steel Co., Ltd., mainly engaged in the production of grain-oriented electricians. Steel and amorphous grain oriented electrical steels are expected to have an annual capacity of 400,000 tons of amorphous grain oriented electrical steel and 200,000 tons of grain oriented electrical steel, of which the first phase is expected to have an annual capacity of 200,000 tons of amorphous grain oriented electrical steel. And 100,000 tons of grain oriented electrical steel.
At the signing ceremony, Mei Kebao said that the iron and steel industry is an important pillar industry in Hunan's industrial development and a key basic industry that promotes the "one-and three-base" strategy. In the current situation of responding to the crisis, “guaranteing growth, expanding domestic demand, and adjusting the structureâ€, the construction of automotive panels and electrical steel projects is faced with rare development opportunities and broad market prospects. Loudi is an important energy and raw material base in the province. The completion and production of this project will participate in rewriting the history that China’s auto industry has long relied on importing foreign auto plates, further enhancing the core competitiveness of the Hunan steel industry. The provincial departments and the city of Loudi shall open up green channels for financial, land use, demolition, and examination and approval, and do a good job in service work. They will fully support the start-up, production, and efficiency of the project and build this project into a “national steel industry. The "Model Project" promotes the development of the province's fine steel and deep-processing industry clusters and accelerates the development of Hunan's new type of industrialization.
Let Paul Schuler said that currently affected by the international financial crisis, the world's auto and steel production and sales have declined, but China's automobile and steel market has great potential and broad prospects. The selection of the project will be completed at the bottom, that is, the local convenient and inexpensive transport capacity and rich raw material resources, ArcelorMittal full confidence in this cooperation.
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