According to Economy and Trade Commission of Shandong Province, the province closed and washed out 2.48 million tons of iron melting capacities and 3.706 million tons of steel melting capacities in 2007, fulfilling the targets set by national government for 2007. Meanwhile, the more than 14,000 employees involved have been reallocated.
According to the responsibility documents signed between NDRC (National Development and Reform Commission) and Shandong Province Government, the first capacities to be demolished belonged to 17 companies, totaling 4.90 million tons of iron melting capacity and 7.91 million tons of steel melting capacity.
Till now, there still 15% of iron melting and 6% of steel melting capacities remain, which are listed as the outdated capacities to be washed out. Therefore, the further structure adjustment of iron and steel industry is even harder, as the industry is in dispersion, and the targets for energy saving and emission decreasing is heavy, said Wang Wanliang, head officer of Economic Operation Bureau of Economy and Trade Commission.
