Hebei to chop 40 million tons of steel overcapacity
As the main battlefield for the nationwide campaign, Hebei has reduced production in several key sectors
The Hebei provincial government is moving briskly to cut overcapacity, aiming to reduce steel production by 40 million tons over the next three years, reported by Xinhua news agency.
Also, the capacity of coal, cement and coke are expected to be reduced by 30, 5 and 10 million tons, respectively, over the same period of time, along with 23 million weight boxes of flat glass and 1.5 million kilowatts of thermal power.
As the main battlefield for the nationwide campaign against overcapacity, Hebei has reduced the steelmaking, ironmaking and cement production capacity by 69.93, 64.42 and 70.57 million tons, respectively, since 2013.
Meanwhile, the consumption of coal has decreased by 44.16 million tons, and that of flat glass has dropped by 71.73 million weight boxes.
Eight out of eleven zombie producers of steel were also cleared from the market, and 31 substandard steelmakers have been dismantled and banned.