Baosteel Group Xinjiang Bayi Iron and Steel Co., Ltd. will spend 654.38+0 billion yuan to build a new steel production base with an annual output of 3 million tons in Baicheng County, Aksu region. Aksu region is an important resource area in Xinjiang, which is rich in mineral resources, especially coal and iron ore resources. It has the advantages of developing iron and steel industry and the ability to take the lead in developing and radiating the development of southern Xinjiang. As a key iron and steel enterprise supported by the autonomous region, Baosteel Group Xinjiang Bayi Iron and Steel Co., Ltd. has an annual steel production capacity of 7 million tons and is one of the leading iron and steel enterprises in northwest China. Zhao Xia, deputy general manager of Baosteel Group and chairman of Baosteel Group Xinjiang Bayi Iron and Steel Co., Ltd., said that establishing a steel base in Aksu is a strategic measure for Bayi Iron and Steel to lay out the industrial development in southern Xinjiang and radiate to Central Asia. We will fully rely on the rich resource advantages of southern Xinjiang, including Aksu, and give full play to the advantages of Bayi Steel in talent, technology, capital and management, so as to build the steel production base into a sustainable steel base. Kurexi Mehsuti, member of the Standing Committee of the Party Committee of the Autonomous Region and vice chairman of the Autonomous Region, said that the cooperation between Aksu region and Baosteel Group Xinjiang Bayi Iron and Steel Co., Ltd. to build Baicheng iron and steel production base is a strategic choice for both sides to seek development based on their own advantages, and an important measure to adjust Xinjiang's industrial structure and improve the quality and efficiency of iron and steel industry development is of great significance to promoting local and even southern Xinjiang's economic and social development and accelerating the process of new industrialization.