Beijing based Chinese integrated steel trading and logistics services provider Minmetals Development Co subsidiary Minmetals Iron and Steel Co will cooperate with Gansu Province-based Phoenix Mountain Investment Co to invest in a new joint venture company called Minmetals Lanzhou Iron and Steel Logistics Co for the construction of a steel logistics park in Lanzhou, Gansu.

The total investment in the project is expected to be CNY 1.2924 billion while the registered capital of Minmetals Lanzhou Iron and Steel Logistics Co will be CNY 319.76 million with Minmetals Iron and Steel contributing 70% and Phoenix Mountain Investment providing the remaining 30%.

Minmetals Development stated that the construction period will last three-and-a-half years, while the total investment is expected to be recovered within nine years.

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