Beijing Shougang Co., Ltd. (000959.SH) said its newly installed 1.5-million-ton cool rolling sheet production line is in operation on the outskirts of Beijing.

   With an investment of 6.4 billion yuan, the production line is the company's only major program in Beijing after its relocation to reduce pollution.

   The production line is expected to help the company adjust its product mix and upgrade its industry, said a company official.

   The company issued two billion yuan worth of convertible bond in 2003 to finance the program.

   It is predicted that China will demand 84 million tons of cool rolling plates in 2010 with expected domestic production capacity shy of the demand by more than ten million tons.

   Beijing Shougang Company is also building a steel plan at Caofeidian, Hebei Province. (XIC)