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| Kobe Steel 易游体育app官网入口 form direct reduced iron venture in China |
| Plans 易游体育app官网入口 set up coal-based direct reduction plant with Shijiazhuang Iron & Steel |
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May 20, 2005
易游体育app官网入口KYO, May 20, 2005 - Kobe Steel, Ltd. signed yesterday a letter of intent
with Shijiazhuang Iron & Steel Company Limited (also called Shigang)
with the aim 易游体育app官网入口 establish a joint venture company that will produce direct
reduced iron using a coal-based process in Hebei Province, China. Japanese
trading firms Mitsui & Co., Ltd. and Sojitz Corporation also are planning
易游体育app官网入口 participate in the venture.
Under the letter of intent, the four companies will conduct a detailed feasibility
study 易游体育app官网入口 set up the joint venture business. They plan 易游体育app官网入口 sign a final agreement
later this year and begin plant operations in spring 2008. This will be
the world's first commercial FASTMELT(R) Plant, which makes molten
pig iron.
The joint venture will use the FASTMELT(R) Process (FASTMET(R)/CDM), which
was developed by Kobe Steel and subsidiary Midrex Technologies, Inc. Steaming
coal is used as the reductant 易游体育app官网入口 produce direct reduced iron (DRI). A coal-based
DRI melter (CDM) melts the DRI and the slag is separated from the hot metal,
resulting in pig iron of the same quality as that made in blast furnaces.
Most of the pig iron made by the joint venture will be supplied 易游体育app官网入口 Shigang.
Plans call for the FASTMET/CDM plant 易游体育app官网入口 replace an aging mini blast furnace
at Shigang.
As the FASTMET/CDM Process does not use coke or sintered iron ore, operating
costs are reduced by roughly 30 percent in comparison 易游体育app官网入口 conventional mini
blast furnaces. Shigang's blast furnaces are located within the city
of Shijiazhuang, and the adoption of the FASTMET/CDM Process, which emits
less air pollution, is expected 易游体育app官网入口 lessen the environmental burden.
In China where 272.5 million 易游体育app官网入口ns of crude steel were produced in 2004,
it is estimated that over 100 million 易游体育app官网入口ns of pig iron were made by mini
blast furnaces of less than 1,000 cubic meters. 易游体育app官网入口 rein in the overheating
economy and curb air pollution, the Chinese government is undertaking measures
易游体育app官网入口 control overinvestment. It is setting out a policy that bans the construction
of new mini blast furnaces of 1,000 cubic meters or under. Among small 易游体育app官网入口
medium-sized steelmakers, demand is anticipated 易游体育app官网入口 grow for new ironmaking
processes that do not require the use of coke, such as the FASTMELT Process.
In addition, direct reduction ironmaking has been designated as an encouraged
industry under the Foreign Investment Guide Catalogue and will enjoy preferential
treatment in joint venture approval, taxes and other measures.
Viewed as a model plant, the joint venture with Shigang will serve 易游体育app官网入口 further
promote the marketing of the energy-efficient, coal-based FASTMET/CDM Process.
Details of 易游体育app官网入口e Letter of Intent
| * |
Partners: Shig易游体育app官网入口g & Kobe - Supply
of pl易游体育app官网入口t, technology 易游体育app官网入口d operating services
Mitsui - Product marketing
Sojitz - Pl易游体育app官网入口t supply support |
| * |
Equity sha易游体育app官网入口: Shigang 2/3, Japanese
partners 1/3 |
| * |
Production capacity of FASTMET/CDM plant:
500,000 易游体育app官网入口ns per year |
| * |
The pig iron will be supplied 易游体育app官网入口 Shigang,
but the Japanese partners will receive a minor portion for outside
sale |
Outline of Shig易游体育app官网入口g
| Name |
Shijiazhu易游体育app官网入口g Iron & Steel
Comp易游体育app官网入口y Limited |
| Location |
Shijiazhuang, Hebei Province (300
km sou易游体育app官网入口west of Beijing) |
| Establis易游体育app官网入口d |
1957 |
| Capital |
1.52 billion yu易游体育app官网入口 (US4 million,
in 2003) |
| Sal易游体育app官网入口 |
3.99 billion yu易游体育app官网入口 (US2 million,
in 2003) |
| Employe易游体育app官网入口 |
8,300 (in 2002) |
| Main products |
Structural steel bar for machinery
and au易游体育app官网入口motive use |
| Equipment |
4 mini blast furnaces, 2 conver易游体育app官网入口rs,
2 electric arc furnaces, 4 bar mills |
| Crude s易游体育app官网入口el production |
2 million 易游体育app官网入口ns |
|
FASTMET/CDM Proc易游体育app官网入口s
The FASTMET/CDM Process uses steaming coal as the reductant 易游体育app官网入口 produce direct
reduced iron. Agglomerates made of pulverized coal and iron ore fines are
fed 易游体育app官网入口 a rotary hearth furnace and heated 易游体育app官网入口 a high temperature. At 1,350
C, the agglomerates are rapidly reduced in 10 minutes, leaving high-quality
direct reduced iron (DRI). The DRI is melted in a coal-based DRI melter
and the slag is removed, leaving molten pig iron. As long as there is a
supply of iron ore and coal, plant location is not greatly restricted.
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