At the recent signing ceremony of the central enterprises' major projects in Shanghai, Baosteel Co., Ltd. (600019.SH) announced that it will optimize the non-oriented silicon steel product structure of Shanghai Baoshan Iron and Steel Base and enhance the production capacity of the high-grade products of the base to meet new energy sources. Demand for downstream industries such as automobiles and high-end inverter compressors.
The total investment of this project is 2.4 billion yuan and is expected to be completed in 2023. The new production line will be designed according to the goal of 100% automation and intelligentization. It has the functions of intelligent storage, automatic operation and automatic detection, intelligent inspection and monitoring. Baosteel invested in a new non-oriented silicon steel product that can be used to manufacture various types of generators and rotating electric machines. At present, the company has a total annual production capacity of 2.8 million tons of non-oriented silicon steel, of which high-grade products have a capacity of 400,000 tons.