Global economic downturn and cancel or postpone several steel projects – steel, energy – steel industry
By the U.S. financial crisis, continued to decline in steel demand, steel manufacturers full cut, the future is still a question whether the steady growth. So far, the market rate of deterioration over the people's imagination, the prospects are very bleak in 2009. As the demand for restoration can not see the signal, some steel mills have to re-evaluate the feasibility of the planned investment projects, some investment projects or to cancel or delay production time.
Asia: Dongkuk Steel re-examine Pakistan Western Steel Plant construction projects. Eastern States Steel was December 9, 2005 that in order to ensure that the raw materials supply channels, CVRD plans to jointly set up three such holding company in Brazil Ceara region CearaSteel slab factory building. But the recent change of mind, to reconsider capital investment of the plan, the major changes in international energy markets, and raise the price of natural gas producers requirements. In this case, it is difficult to ensure the feasibility of investment, and investors the gap between the views, so the project can not proceed smoothly.
Baosteel and CVRD in Brazil slab project cancellation. Global economic downturn affecting the steel industry chain, Baosteel steel project in Victoria also had a change in the situation, both sides decided to cancel the agreement to a joint venture to build a Brazilian steel company plans. Oct. 2007, Baosteel Group announced a joint venture with Brazil's CVRD Victoria Baosteel Iron and Steel Company, Baosteel is also the first overseas steel plant projects. An annual output of 5 million tons slab, two slabs to reach an annual output of 10 million tons scale. Is expected to start in the first half of this year, the end of 2011 completed and commissioned.
Japan's JFE Company may cancel the project, Brazil and Vietnam. JFE Steel Corporation, the country of Brazil Vale and Dongguk Steel planned joint venture in northeastern Brazil, Ceara new slab plant, originally planned to put into operation in 2011-2012, the initial capacity of 250-300 million tons, followed by expansion to 6 million tons. But now, as global steel demand is still sluggish, JFE Steel Corporation of Japan may be canceled or delayed their new steel plants in Brazil plans. In addition, JFE Steel Corporation are likely to cancel its annual production capacity in Vietnam, Quang Ngai province to 5 million tons new steel plant projects. South Korea's part of the furnace company delayed
investment plans. Dongbu Steel plans to build the original Rebar Production plant, but won against the dollar in view of the rise there, as well as international steel prices have fallen sharply, the construction of the rebar plant can not be determined. It is reported that, although over the eastern Steel assessment, and procurement of equipment Letter of Intent also do a good job, but delaying the signing of procurement contracts. In addition, other electric furnace steel mill planned for December 2008 or January 2009 also delayed the project put into operation 3 months. But modern Kong, Dongguk Steel, South Korea and other special steel company expansion proceeded as planned. Tata Steel will be delayed
5.0 billion plant investment plans in Vietnam. India's Tata Steel recently said that 5.0 billion dollars in Vietnam steel plant construction plan may be delayed, due to the location of the project has not yet finalized. Some locations are still under consideration at present, but the project dragged on how long is unclear. Tata Steel and Vietnam Steel Corporation and Vietnam Cement Corporation on August 13, 2008 plant agreement signed in Hanoi. New steel production capacity of 4,500,000 tons, sub-3 building, a cold rolling mill planned to put into operation in 2010 end, but now at least be delayed for one year.
JSW postponed a number of expansion projects. Beijing Yue malaria in India iliac fine hemorrhoids?? Jing? SW) will be temporarily postponed its Vijayanagar plant, salem plant and Salboni plant expansion plans. Vijayanagar plant in Karnataka, the original plan to the end of March 2009 the production capacity from the current 4 million tons to 700 tons, annual output in 2010 increased again to 10 million tons. However, the current poor market conditions, both of these expansion plans will be postponed. Vijayanagar third blast furnace plant groundbreaking ceremony was also postponed. JSW plant in Salem plant construction project also postponed a second blast, in the Salboni factory installed annual capacity of 6 million tons slab Mill The program also postponed.
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