The second phase of the Tongxiang 360,000-tonne furnace-line cold-repair and upgrade programme was carried out in 2016. The report describes expected improvements in quality, capacity efficiency and costs. Phase II is stored as a distinct project phase, associated with the same base and wider programme as phase I. The programme's headline capacity is not added twice or interpreted as a newly commissioned line.
The 360,000-tonne furnace-drawing technical-upgrade programme has separate phase I and phase II rows in the construction note. Phase II reports a budget of CNY 554,195,000.00, additions and year-end construction of CNY 598,862,634.97, a reported investment-to-budget ratio of 58.03% and engineering progress of 80%. The monetary balance divided by the printed budget does not reproduce the printed ratio. Phase I has a budget of CNY 494,099,600.00, reported investment ratio of 45.40% and engineering progress of 100%; its closing construction cell is blank after the disclosed transfers and other reductions. These source values are preserved without changing the budgets or equating engineering completion with full commercial utilization. A further narrative describes upgrading two 140,000-tonne lines to 180,000 tonnes each, a combined investment of 104,829.46 ten-thousand CNY and a two-year construction period starting in the fourth quarter of 2015. Its combined investment equals the two printed phase budgets, and the two resulting capacities total the programme headline. Those correspondences support comparison, but do not allocate every narrative milestone or cost to a particular phase, nor identify this programme with the separate intelligent-base groundbreaking.
- Project budget / 2016 / construction note
- RMB 554,195,000
- Construction in progress at year-end / 2016 / construction note
- RMB 598,862,634.97
- Issuer-reported investment-to-budget ratio / 2016 / construction note
- 58.03 percent
- Engineering progress / 2016 / construction note
- 80 percent