Guangdong plans further capacity reduction

Province to trim obsolete manufacturing facilities for iron, steel and cement by 2017, commission says

Guangdong province will make further cuts in obsolete manufacturing capacity for iron, steel and cement by 2017.

Iron and steel capacity will be reduced by 4.5 million metric tons and that of cement by 3.23 million tons as part of a national drive to eliminate excess capacity, the provincial development and reform commission said on Tuesday in a draft plan.