TEXT-BlueScope to proceed with A$370 mln furnace project
(Following is the text of a statement from BlueScope Steel Ltd (BSL.AX))
SYDNEY, May 29 - BlueScope Steel has been planning to undertake the reline of its No.5 Blast Furnace at Port Kembla for 3 years and today confirmed that this $370 million project will proceed on schedule.
BlueScope Steel Chief Executive Australian & New Zealand Steel Manufacturing Businesses Noel Cornish said: "Number 5 Blast Furnace is one of the Company's key assets and has served us well during its current 18 year campaign. The reline project will be a comprehensive overhaul of the facility and will restore the blast furnace to peak operating condition and secure our ironmaking capacity for many years to come.
"The reline project is scheduled to take 105 days and will take place in the first half of calendar 2009. Domestic external sales are not expected to be materially affected during the project and we have contacted export customers who will be affected and they will make alternative arrangements during the reline period," Mr Cornish said.
