China to cut steel capacity to conserve energy & reduce GHG
Outdated steel capcity to the tune of 19 Million mT has been ordered to be closed in China in first 6 months of the year in an attempt to conserve energy & reduce GHG emmissions. The shtdown affected capacity in Beijing and nine provinces such as Hebei, Shanxi, Shaanxi and Liaoning, according to China's National Development and Reform Commission 10 major steel producing regions in china are expected to eliminate 48 million tonnes of iron & steel capacity in 2007 which are energy inefficient.
China is biggest producer of crude steel with capacity of 420 million tones of crude steel likely to go up to 500 and accounts for approx 1/3rd of the global share of crude steel production.
Approx 155 million tonnes of out-dated iron & steel capacity is likely to be phased out by the year 2010 which will reduce consumption of coal by 50 million MT, 10 Billion Tons of water & 0.4 million tons of SO2 emissions per annum.
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