Baosteel moves Shanghai facilities
China's Baoshan Iron & Steel Co Ltd (Baosteel) will move its Pudong iron and steel factory in Shanghai to a new site. The new site will cover 2.82 km2 total area, which is 0. 64 km2 larger than the current site. The facilities will be moved to the new site by the end of 2006. Furthermore, a new mill, two continuous casting machines and some furnaces will also be constructed on the new site by 2007. With the new site, the company aims to make its facilities more environment-friendly and to increase the production capacity. The new site also means a kind of preparation World Expo 2010 to be held in Shanghai. The cost of movement and construction at the new site is estimated around RMB 10 billion ($1.2 billion).