China Steel : The third meeting of the 18th Board of Directors of China Steel Corporation (CSC) was held on November 4, 2022.

The third meeting of the 18^thBoard of Directors of China Steel Corporation (CSC) was held on November 4, 2022. Major resolutions:

1. Revamping of the Cranes Replacement in the No.1 Steelmaking Plant
In order to reduce aging equipment' risks of major accident or shutdown and maintain safety requirements of personnel and equipment, CSC will invest NT$1,193 million to launch the project of revamping of the Cranes Replacement in the No.1 Steelmaking Plant. After completion of this project, it can reduce maintenance hours and cost, and possesses the efficacy of energy saving and carbon reduction due to the variable voltage and variable frequency electrical control system. The project will commence on January 1, 2023 and is scheduled for completion on July 31, 2028.

2. Construction of New Liquid Nitrogen Storage Tank and Back-up Systems at the Oxygen Plant
In order to enhance safe reserve and robustness of liquid nitrogen, emergency support and endurance of liquid nitrogen during massive power failure, CSC will invest NT$440 million to launch the project of Construction of New Liquid Nitrogen Storage Tank and Back-up Systems at the Oxygen Plant. After completion of this project, the total benefit of power saving and carbon reduction in production process is NT$79.8 million per year. The project will commence on December 1, 2022 and is scheduled for completion on October 31, 2025.

3. Appointment of Chief Security Officer
The Board appointed Mr. Chien-Chih Hwang as the Chief Security Officer of CSC and his appointment was effective on November 4, 2022.