Qiuquan Steel to Produce 13 Million Tons of Steel by 2015

Last year Jiuquan Steel produced 6.55 million tons of pig iron, 8.57 million tons of steel and 8.86 million tons of steel products. The company achieved operating revenues of 56.35 billion yuan and a profit of 1.20 billion. The average wage of fully employed was 50,200 yuan a year, up 20 percent year-on-year.

By 2015 the group will strive to produce 13 million tons of steel including three million tons of stainless steel and achieve operating revenues of over 140 billion yuan.