On December 12, construction commenced on a new steel logistics park with a total planned investment of RMB 300 million ($48 million) in Guangyuan in China’s Sichuan Province, according to a local government announcement.
Covering a total area of 72 acres, the steel logistics park will mainly focus on distribution, warehousing, wholesale and retail, and will offer a logistics information service. Meanwhile, the steel logistics park will provide a convenient raw material supply chain and construction steel service for steelmakers in the provinces of Sichuan, Shaanxi and Gansu.
The steel logistics park is expected to be completed by 2014. Total annual sales revenue and pre-tax profit of the park will reach over RMB 3 billion ($481 million) and RMB 20 million ($3.2 million) respectively after completion