After the withdrawal of Hebei Province-based Chinese steelmaker Hebei Steel Group from the project for the construction of a steel production base in Caofeidian, Hebei Province, it was widely speculated that Kailuan Group, the largest coal enterprise in Hebei Province, would acquire part of the stake being sold by Hebei Steel, while Shougang Steel would acquire the remainder. However, Kailuan Group is still reluctant to make any decision and so the Caofeidian steel project remains in limbo.
On May 15, an official from Hebei Steel Group told the media that Kailuan Group would take over its shares in the project.
However, on May 16 an official from Kailuan Group refused to make any comment on the matter when interviewed by reporters.