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Steelmaker turns production base into innovation park

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China Baowu Steel Group launched 10 major projects in Baoshan Wusong Park in Baoshan District, Shanghai in late December with a total investment of over 13 billion yuan ($ 2.01 billion). The project is part of the Group’s efforts to transform its steel production base into a state-of-the-art innovation park, the chairman said.

“This area was a steel mill with a history dating back to the 1930s, but now we are planning to build it in the Innovation Park. This place where I stand is modern. The convention and exhibition center is a blast furnace. ” China Baosteel Group Chairman Chen Derong said at the groundbreaking ceremony for the new project.

The Wusong Park project officially announced in June. They will develop to a total floor area of ​​513,000 square meters, including the Advanced Materials R & D Exhibition Center, Cloud Supercomputing Center, Digital Technology Experience Center, and Innovation Industry Project.

Over the next few years, the various units under China Baou will include R & D, technology, clean energy, new materials and intelligent services, making the company one of Shanghai’s major innovation zones.

The city of innovation is designed to promote and support the industrialization of innovation, financial services and institutional outcomes, as well as serve as a platform for the upgrade of state-owned enterprises, said Chen Jie, party secretary of the Baoshan district. He said.

Shanghai City and Baosteel China started the reconstruction plan of the former Wusong Industrial Park in 2012, completed the blueprint in early 2020, and started the construction in June. This evolves into a role model for the transformation of the former industrial base.

Hanasaki Tokuharu of China Baou said China Baou will make a higher investment to promote the upgrade and transition of Wusong Innovation City.

According to China Baowu, 830,000 square meters of projects will be completed by 2023, with total space for both completed and under construction projects reaching 5.6 million square meters by 2025.

According to ThePaper.cn, the steel mill is expected to generate more than 100 billion yuan in revenue from the industry in Wusong Park in the future.

The technologically innovative project at Wusong Park is the latest effort by China Baowu to become a truly global steel industry leader with three pillars: technology, profitability and scale.

In December, China Baowu announced that it has made steelmakers a global industry leader with annual production of over 100 million tonnes.

The steel giant is also expected to report record high profits in 2020, so Chen said he is on the right track to become a leader in terms of profitability.

Meanwhile, China Baowu is working to dispel the stereotype that the steel sector is plagued by overcapacity and pollution. According to Hithink RoyalFlush Information Network Co Ltd, China Baowu’s R & D investment by Baoshan Iron and Steel Co Ltd alone has reached 14.9 billion yuan in the last three years.

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Employees perform various operations at the Baosteel Factory. DING TING / XINHUA

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