Hebei Province, after much debate within the government, has approved the merger of Tangshan Iron and Steel Corp. and Handan Iron and Steel Corp. to create the new Hebei Steel Group. It will become China's No. 1 steel maker in productivity, overtaking Baosteel Group, said deputy governor Sun Ruibin.
By the end of 2010, under the premise of eliminating backward development and optimizing structure, the Hebei Steel Group will produce 50 million tonnes of iron and steel annually, and become a world-class iron and steel enterprise.
By People's Daily Online
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