A notice recently issued by the Ministry of Industry and Information Technology may become another policy impetus for the restructuring of the steel industry. The industry also believes that this is an opportunity for many steel “black households†that have not yet been approved to invest in construction and production to obtain legal status through restructuring.
In the "Notice on Implementing the "Several Opinions of the General Office of the State Council on Further Strengthening Energy Saving and Emission Reduction and Accelerating Structural Adjustment of the Iron and Steel Industry" issued by the Ministry of Industry and Information, the Ministry of Industry and Information Technology requires all provinces to find out the “home†of the iron and steel industry within this year. Scientifically formulate merger and reorganization plans in the region and submit it to the Ministry of Industry and Information Technology for approval by local industrial authorities before the end of 2010.
In addition, the Ministry of Industry and Information Technology also requires all localities to promptly announce to the public the list of companies that have eliminated backward production capacity in the region, backward technology equipment, elimination deadlines, etc., and report relevant work progress in a timely manner.
The industry believes that the highlight of the notice is that the relevant parties have set up a complete "framework" arrangement for the formulation of reorganization plans in various places to further promote the industry merger and reorganization process. At the same time, it also opened the door for a large number of steel “black households†to obtain official status.
“In the context of energy-saving emission reduction and the elimination of backward pressure, a large number of small enterprises that are on the verge of industrial policy are facing the pressure of shutting down. It is one of the important ways for them to legalize through merger and reorganization to meet industrial policy requirements. According to industry analysts, the Ministry of Industry and Information Technology (MIIT) has asked local governments to formulate this regional reorganization plan, which is to give local governments a chance to reorganize and arrange the "grey" field of this part of the steel industry.
In the "Notice on Implementing the "Several Opinions of the General Office of the State Council on Further Strengthening Energy Saving and Emission Reduction and Accelerating Structural Adjustment of the Iron and Steel Industry" issued by the Ministry of Industry and Information, the Ministry of Industry and Information Technology requires all provinces to find out the “home†of the iron and steel industry within this year. Scientifically formulate merger and reorganization plans in the region and submit it to the Ministry of Industry and Information Technology for approval by local industrial authorities before the end of 2010.
In addition, the Ministry of Industry and Information Technology also requires all localities to promptly announce to the public the list of companies that have eliminated backward production capacity in the region, backward technology equipment, elimination deadlines, etc., and report relevant work progress in a timely manner.
The industry believes that the highlight of the notice is that the relevant parties have set up a complete "framework" arrangement for the formulation of reorganization plans in various places to further promote the industry merger and reorganization process. At the same time, it also opened the door for a large number of steel “black households†to obtain official status.
“In the context of energy-saving emission reduction and the elimination of backward pressure, a large number of small enterprises that are on the verge of industrial policy are facing the pressure of shutting down. It is one of the important ways for them to legalize through merger and reorganization to meet industrial policy requirements. According to industry analysts, the Ministry of Industry and Information Technology (MIIT) has asked local governments to formulate this regional reorganization plan, which is to give local governments a chance to reorganize and arrange the "grey" field of this part of the steel industry.
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