Hebei Daily reported that Handan Iron & Steel Co Ltd has saved 241,600 tonnes standard coal by the end of October 2008 period as a result of carrying out energy saving strategy, fulfilling the original annualized plan of 92,500 tonnes ahead of schedule.

In order to ensure the yearly goals, earlier this year Handan Steel has poured CNY 578.79 million into the energy saving and emission reduction projects, with the former including 8 projects and CNY 422.62 million investments and the latter of 3 projects and CNY 156.17 million investments.

Mr Li Guiyang GM of Handan Steel said that “Up to now, we have accomplished 2,000 cubic meters blast furnace dust-removing and heating furnace regenerative renovations, and we will finish the whole year’s plan by the end of this year.”

In the mean time, Handan Steel speeds up its pace for product mix adjustments. As predicted, the company is likely to phase out obsolete production capacities include 3 25 tonne steel making converters and 4 300 cubic meters blast furnaces etc by the end of 2010.