Chinese steelmaker Chongqing Iron and Steel Company (Chongqing Steel) has announced that it will build a transit port on Jingjiang River in Jiangsu Province. After the Extension Hill magnetite project is commissioned in Western Australia, iron ore is expected to be delivered from the project via Geraldton Port in Australia for Chongqing Steel in China.
Chongqing Steel has already inked an agreement with the Jingjiang municipal government on construction on the transit port at a cost of RMB 1.3 billion ($205 million). The designed annual throughput capacity of the port is 12 million mt of iron ore and 3 million mt of steel plate.