OREANDA-NEWS. January 03, 2012. Recently, TISCO stainless steel continuous cold rolling project got 200 million yuan national budget fund support, which is the only project winning national special fund support in Shanxi Province this year, but also the individual project getting the national top limit support so far in Shanxi Province, this shows that the nation gives a energetically support to TISCO for its product structure adjustment and stainless steel industry.

Under the increasingly competitive situation of iron and steel industry, TISCO focus on speeding up the transformation of development mode, increasing the strength on product structure adjustment and promoting stainless steel product level and international competitiveness. Entering into the "12th five-year", on the basis of stainless steel producer with the largest scale, highest technological equipment level and most complete specifications varieties, TISCO insist to keep on structure optimization upgrade to strength and perfect stainless steel. Stainless steel continuous cold rolling project is top priority in the planning projects in "12th five-year" plan. The project is expected to set up in September, 2013, and after the production, it can produce series products with high tech content and high added value including high speed overloaded railway carriage steel, automobile exhaust pipe steel, container steel, coinage steel, super pure ferritic stainless steel, part of the products will replace the imported and meet the national economic development.

This major structure adjustment project attaches high attention from the National Development and Reform Commission and National Industry and Information Ministry. During related examination and approval process, Shanxi Provincial Economic and Information Committee and Environment Protection Department gave great supports; during process of national budget fund application, the Provincial Development and Reform Commission created good condition for TISCO getting national special funds support.

TISCO will make good use of the national support funds, improve the stainless steel production technology and equipment level, promote the new product large-scale production ability, improve optimization of stainless steel product structure, and boost international competitiveness of stainless steel.

The central budget funds are divided into the central special funds and local sliced capital. The amount of central special funds support is bigger than that of local sliced capital, usually is 6% of the total project investment, in principle, each project is not more than 200 million yuan. Application of the financial support of the project is required to comply with four conditions like the national industrial policy and financial support direction, complete examination and approval formalities, the project implement construction fund available and construction started, and without the central budget financial support.