SHANGHAI, Sep. 27 (SMM) - China-based Hailiang Group will phase out 20,000 tpy copper smelting capacity in 2016 due to structure adjustment, SMM reports.
The capacity elimination plan released by Zhejiang Province includes 184 companies which have obsolete and surplus capacities, covering 11 industries.
“Capacity elimination does not mean a simple shutdown. All the eliminated capacities at 10 companies will be realized in the form of capacity replacement, M & A, relocation and upgrading.” said Hong Hupeng, Director of Economic & Information Commission of Zhejiang Province.
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