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(Securities Daily)

 

According to an official from industrial department of Hubei Development & Reform Commission revealed days ago, Hubei is to release its reviving plan in steel industry after the draft plan has been finished recently.

 

 

The official noted, the province adds several personal propositions based on the state's revitalization plan, however, details not to be learnt until the formal publication. He affirmed Government will give out certain policies to help the development of Wuhan Steel, which is underlined as one of three future steel giants in China's revitalization plan in steel industry.

 

It's mentioned in state's plan that the mill will grow into a world-competitiveness steelmaker with capacity over 50 million tonnes per year by 2011.

 

 

It's worthy of note that Wuhan Steel, main auto plate producer in the province, will grab a great opportunity when Hubei has listed auto industry into its industrial reviving plan.

 

 

As one of key domestic auto production bases, Hubei is to encourage local automakers to develop entire car with self-own brand, car parts and electric vehicles.

 

 

Official uncovered that in order to enhance industrial centralization Hubei Province focuses on the elimination of obsolete steelmaking capacity, since the province has basically completed regroups in steel sectors. The official said the province signed with the country before, promising to clean out 4 million tonnes per year backward capacity by 2010, and the promise can be fulfilled by the end of this year.