Guangzhou Daily reported that China's Shougang Group is going to build a large sized metal material processing and dispatching and marketing base in Jiujiang Town, Nanhai District of Foshan and Guangdong province.

According to the report, this project funded a total of CNY 500 million contains three construction phases.

The first phase, invested CNY 300 million is slated to start construction this September including a business center, three deep processing lines with annual output of 150,000 tonnes and a warehouse with stocking and logistical capacity of 2 million tonnes. The annual production value is expected to reach CNY 7 billion within two or three years.

This base, once built up will be Shougang's important marketing platform in South China.

(Sourced from Guangzhou Daily)