The new steel logistics park being built in Lanzhou in China's Gansu Province by Beijing-based metals and mining corporation China Minmetals Corporation is expected to be completed by 2016, as reported by Chinese media sources.
Construction work on Lanzhou steel logistics park, in which total investment is expected to reach RMB 2.99 billion ($472 million), started on April 20 this year and will be carried out in three phases.
Phase one of the project will achieve an annual output capacity of 200,000 mt of rebar and 50,000 mt of welded pipes as well as annual logistics capacity for 2.2 million mt of finished steel. Phase two will see an increase in annual production capacity of welded pipes to 150,000 mt and in annual logistics capacity to 4.5 million mt of finished steel. Phase three will add annual output capacity of 500,000 mt of rebar, 150,000 mt of steel structure and 300,000 mt of welded pipes, as well as an annual logistics capacity for 800,000 mt of finished steel.