Reportedly, East China based steelmaker Shandong Steel has started its restructuring schedule for Rizhao Steel. The project is expected to be completed by 2013.
After restructuring, Rizhao Steel's annual capacity should reach 8.5 million tons. And the steelmaker has posted pretax profits of RMB6.37 billion in 2011.
The project includes several construction items as iron ore wharf, finished steel wharf, sintering machine, a 5100-cubic-meters blast furnace and the like