China plans to set up an iron and steel industrial park in Zhangping City, Fujian Province, according to Chinese media reports. The plant is a part of the relocation and restructuring project by Longyan Zhuoying Iron and Steel. Under the project, the company facility will be moved from Longyan urban area to Xiyuan Town, Zhangping City.
The industrial park is set to have an integrated facility including the processing of coking coal, ironmaking, steelmaking, hot rolling. It would encourage the concentration of the steel industry and drive upstream and downstream steel, as well as achieve product diversification.
Upon completion of the project, the revenue is likely to reach CNY5.3bn which would drive the economic growth of related industries over CNY4bn.
The annual production capacity after the completion of the first phase of the project would be 1.21mn mt.
($1=CNY6.83)