As announced on February 23, Guangdong Province-based Chinese steel producer Guangzhou Iron and Steel plans to start its Zhanjiang environmental relocation project in March this year.
The producer's environmental relocation project is expected to be completed in 2013 with a total investment of RMB 30 billion ($4.39 billion). Meanwhile, up to the end of last year, a total of RMB 4.4 billion was invested in the elimination in Guangdong Province of 15 million mt of dated production capacities belonging to Guangzhou Iron and Steel and other local producers.