|  | 12/08/2004 |
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JFE Steel Performs FS With Guangzhou Iron & Steel Enterprises Holdings Ltd.
JFE Steel announced on August 11 that it reached an agreement with Guangzhou Iron & Steel Enterprises Holdings Ltd. about performing FS or feasibility study of the plan of construction of one-continuous steelworks with blast furnace in the developing district in Guangzhou, Guangdong Province. JFE Steel will participate in FS for profit and finish checking out the results of productive scale, facilities, and amount of investment, etc. Both of the firms already established GUANGZHOU JFE STEEL SHEET COMPANY LTD, the firm of sales and production of galvanized steel sheets, as a joint venture (investment of 51% for JFE Steel and 49% for Guangzhou Iron & Steel Enterprises. GUANGZHOU JFE STEEL SHEET will start its operation in 2006. Currently, the galvanized steel sheet productive line is under construction investing about 20 billion yen. Its annual productivity would be 400,000 tonnes. Furthermore, they reached an agreement about consideration of joint venture of cold rolled steel sheet business before. They hope to secure cold rolled steel sheets as originals, which would be supplied by JFE Steel from Japan. The tandem line for cold rolling is 1.8-2 million tonnes per lot, and they hope to procure hot rolled steel coils as originals.
Guangzhou Iron & Steel Enterprises Holdings Ltd. has 3.5 million tonnes per year for crude steel productivity.
In the Guangzhou area, Honda Motor Co., Ltd. and Nissan Motor Co., Ltd. started their local production. Toyota Motor Corporation decided construction of its assembly plant. Thus, the area is becoming a big base for production of automobiles. Furthermore, Guangdong Province is the base of production of office automation machines and home appliances and a big place of consumption of iron and steel. However, there is no large one-continuous steelworks with blast furnaces. So Guangzhou Iron & Steel Enterprises Holdings Ltd. has the project that, the firm will stop the one-continuous productive equipment with blast furnace of Guangzhou Steel, transfer it to another district in Guangzhou and expand the productivity there. Guangzhou Iron & Steel Enterprises Holdings Ltd. already secured the site for production in the coastal area in the district. The firm is planning to establish productivity of galvanized steel sheets and cold rolled steel sheets in the first term. In the second term, it is planning to perform productivity for 10 million tonnes through one-continuous production with blast furnace.
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 | JFE Steel Performs FS With Guangzhou Iron & Steel Enterprises Holdings Ltd.
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