Nippon Steel eyeing steel capacity expansion to 60 million tonnes

Nikkei quoted Mr Akio Mimura chairman of Nippon Steel Corporation as saying that the company hopes to produce 60 million tonnes of steel a year at domestic and overseas plants.At a lecture in Tokyo, Mr Mimura said that the company's annual domestic production capacity is currently 30 million tonnes to 40 million tonnes. He said expanding by taking over foreign firms would be difficult because of possible intervention by governments. He added that "We will expand output capacity by forming loose alliances with overseas firms."  

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