China Steel : BOD approved to invest NT$ 5,489 million in the "Replacement of equipment and improvement of rolling capacity project for 2PLCM at rolling mill Dept.3"
BOD approved to invest NT$ 5,489 million in the
"Replacement of equipment and improvement of rolling
capacity project for 2PLCM at rolling mill Dept.3"
Date of events
2022/08/05
To which item it meets
paragraph 15
Statement
1.Date of the resolution of the board of directors or
shareholders meeting:2022/08/05
2.Content of the investment plan:
Replacement of equipment and improvement of rolling capacity project for
No.2 pickling and cold rolling mill
3.Projected monetary amount of the investment:NT$ 5,489 million
4.Projected date of the investment:2022/09/01~2025/12/31
5.Source of capital funds:70.48% of funds will come from working capital,
and the remainder will depend on loans.
6.Specific purpose:After completing equipment replacement and improving
rolling capacity through innovation, the continuous rolling machine can
produce warm-rolled thin gauge electrical sheets. Also, a warm continuous
rolling ability with high quality, high yield, low cost and short delivery
time is established to achieve the goal of maximizing the production
capacity without adding new production lines through integration. The
rolling mill can produce 200,000 tons per year of warm-rolled thin gauge
electrical sheets, and has a production capacity of 100,000 tons per year of
medium high carbon steel plates and ultra-high strength steels for
automotive application, thus enhancing market demand and maintaining CSC's
leadership in the electric vehicle material supply market. In addition, the
internal carbon reduction benefit is 5,071 metric tons per year, and the
external carbon reduction benefit of high-efficiency motor green products
made from thin gauge electrical sheets is 866,000 metric tons per year,
which is equivalent to the annual carbon absorption of 2,239 Taipei Daan
Forest Park.
7.Any other matters that need to be specified:None
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CSC - China Steel Corporation published this content on 05 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 05 August 2022 08:30:02 UTC.
China Steel Corp is a Taiwan-based company principally engaged in the manufacture and sale of steel products. The Company operates through two segments. The Steel segment is mainly engaged in the manufacture and sales of steel products. Its products include steel plates, steel bars, wire rods, hot rolled steel products, cold rolled steel products, galvanized steel and electromagnetic steel sheets, among others. Others segment is engaged in the production and sale of coal chemistry and special-purpose chemicals, environmental protection, electromechanical engineering and agency operation business, production and sale of blast furnace powder and blast furnace cement, manufacture and sale of nickel products and other non-ferrous metals, design and sale of information hardware and software, as well as development, leasing and sale of real estate. The Company operates businesses in Taiwan, Malaysia, China, Vietnam and India.
China Steel : BOD approved to invest NT$ 5,489 million in the "Replacement of equipment and improvement of rolling capacity project for 2PLCM at rolling mill Dept.3"
CHINA STEEL CORPORATION 
