Dongguang Times reported that Hongmei County, located in Dongguan city, Guangdong province is planning to build the largest steel spot market in Pearl River Delta region which is named South China International Iron and Steel Logistics Zone or Dongguan steel products city.

The project, with the first-stage investment of CNY 0.33 billion, takes an area of 306 mus in total. It will be focusing on water, assisted by railway and highroad transportations. At present, the project has already finished the preparatory work.

As per report, Dongguang steel products city would finish the construction by 2010 and it may realize nearly CNY 30 billion of sales volume per year with the tax hitting at CNY 0.15 billion at that time.

(Sourced from Dongguang Times)