Construction has officially commenced on a new ferroalloy logistics park with a total planned investment of RMB 1.5 billion ($243 million) in the city of Fengzhen in China's Inner Mongolia region, according to local media reports.
The annual throughput of the logistics park is expected to reach 1.05 million mt after overall completion. Construction of the project will be carried out in three phases. Phase one with a planned investment of RMB 500 million and an annual throughput of 350,000 mt is expected to be completed by the end of the current year. Phase two with an annual throughput of 500,000 mt is expected to be completed by 2015, while construction on phase three with a throughput of 200,000 mt per year is expected to get underway in 2015.
The ferroalloy logistics park will be operate in collaboration with other ferroalloy logistics parks in the north and northwestern China.