Word: baoshan
(lookup in dictionary)
(lookup stats)
Dates: during 1980-1989
Sort By: most recent first
(reverse)
...contradictions and paradoxes bewilder any one who tries to chart China's future. Chinese have synthesized insulin, flung satellites into space, made nuclear bombs ? yet do not supply their villages with adequate common matches. Baoshan, the huge new steel complex near Shanghai, is a state-of-the-art operation. But steel production requires heavy cargo of both coking coal and ore, and the river creek on which the Baoshan plant was built could not take heavy-laden ships. So iron ore must be shipped to the Philippines and then transshipped in small boats to Baoshan...
Phase 1 of a $5 billion iron-and steelworks at Baoshan, near Shanghai, and- a huge petrochemical complex at the Daqing oilfield in Heilongjiang province...
Both sides clearly benefit from the deal. For China, it means a return to work on two showpieces of the modernization drive. The Baoshan complex, to be built by Nippon Steel, was planned as an industrial cornerstone for the country. The Daqing petrochemical project, for which Peking had already imported most of the machinery, is intended to help make China a world-class producer of products ranging from ethylene to synthetic fibers...
...penance, the Chinese agreed to pay some $40 million in compensation to Mitsubishi Heavy Industries for the cancellation of a $420 million hot-rolling steel mill that was to form part of a second phase at Baoshan. Peking also belatedly agreed to import and pay for all of the petrochemical equipment and technology that it had originally signed for with Japanese and West German firms, a commitment that could total as much as $1.5 billion. Industrial development in the People's Republic still faces serious obstacles. Not only must the country be able to train the millions of skilled...
Even more devastating was Peking's decision last month to halt work on the second phase of the giant Baoshan Iron and Steel Works near Shanghai. That grandiose $5 billion undertaking, seen as the cornerstone of industrial modernization in China, was contracted in 1978 to various consortiums, including one headed by West Germany's Schloemann-Siemag AG. The scuttled portion of the project includes plans for a $650 million cold-rolling mill, to have been built jointly by Schloemann-Siemag and three other West German firms, a $425 million contract with Mitsubishi Heavy Industries, and a $140 million...