Shanghai-based Chinese steel giant
Baosteel has completed all preliminary construction work on its Zhanjiang steel project and is now waiting for approval from
China's State Council to move ahead with the main construction work on the project, as reported by local news agency Nanfang Daily. The preliminary work included infrastructure construction and site preparation work. The steelmaker stated that it will likely start the main construction work for the project in the current year.
As SteelOrbis previously reported, preliminary construction work on the project started in May 2011.
Baosteel aims to build a steel
production facility in Zhanjiang with an annual output capacity of 10 million mt, costing almost RMB 70 billion ($11 billion).