The 10 million mt steel base project at the Chinese port of Fangchenggang, planned by domestic steelmakers Wuhan Iron and Steel Company (WISCO) and Liuzhou Steel Group, has received all approvals including those of China's National Development and Reform Commission (NDRC) and is currently awaiting the final signature of the senior leadership of China's State Council, Chen Yongnan, chairman of Liuzhou Steel Group, has stated.
According to Mr. Chen, preparatory work for construction of the Fangchenggang Port project has been continuing, and construction of cold rolled coil production facilities and of port facilities is expected to start within the current year.
The Fangchenggang Port steel base is located in the industrial park of the city of Fangchenggang in Guangxi. Investment in the 10 million mt capacity project is expected to reach RMB 69.8 billion, with WISCO investing 80 percent and Liuzhou Steel Group investing the remaining 20 percent.