The overall project for a new steel market being implemented by Guiyang South Railway Station, which is located in Guiyang in the Chinese province of Guizhou, together with Chinese steelmaker Shougang Group will be completed and will start functioning in the second half of 2012. The total investment in the overall project is approximately RMB 1.39 billion ($0.21 billion), as reported by Chinese newspaper Guizhou Business News.
The first phase has already been completed and has an annual handling capacity and sales turnover of 0.5 million mt and RMB 0.1 billion ($154 million) respectively.
The second phase will be completed in the second half of 2012. Upon completion, the annual handling capacity of the overall market and anticipated sales will reach 3 million mt and RMB 0.6 billion ($924 million) respectively.