Guangzhou Iron & Steel looks for foreign investors
Market sources report that, Chinese steel producer Guangzhou Iron & Steel is looking for a foreign investor to complete steel plant of Yuan 32.5 billion ($3.9 billion), which is located in Pearl River Delta, the South
China. The capacity of the plant will be 10 million metric tons.
Guangzhou Iron & Steel currently produces 3.5 million tons of steel per annum, however the province needs 25 million tons of steel annually. The officials of the company state that, in order to complete the new plant, the company needs foreign investors.