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11 metallurgical enterprises in China may close

3 January 2019

The Ministry of industry and information technology of the PRC told of their intentions. So it is going to «clean up» the list of qualified metallurgical enterprises in the country. The Ministry wants to exclude him from 11 companies. After the official announcement, they will be obliged to stop work. For companies that being a bankrupt, has launched a new power. Some of them do not have the permission of local authorities to carry out the work.

However, businesses have a chance to resolve this issue. They are given the opportunity to provide reasoned arguments why we should leave them. Do they can before January 16, 2019. If arguments are not provided, or not convincing, the enterprise is liquidated. A warning was sent to 17 companies. Among them there are divisions of corporations such as Baowu, HBIS Group. Also got a warning the largest private steel company Jiangsu Shagang.

Those enterprises that had received warnings, are at risk. They can also deny licenses. Causes are irregularities in several fields. We are talking primarily about the environmental safety. This also applies to safety. In addition, businesses need to meet their obligations. This refers to the elimination of production capacity which is in excess.

Were excluded from the list of 48 companies in the last three years. To date, China has 256 companies. Next year the list may expand. It can include 12 new businesses. Their total capacity amounts to 21.86 million tons of pig iron per year. In addition, 22.12 million tons of steel per year. Created enterprise will be mainly in Western and southern provinces.

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