It is reported that Chongqing Sinosteel Logistics Centre Project has been officially settled in Jiangbei Gangcheng Industrial Park recently, unclogging sales channels for steel trading in Chongqing and offering an internationalized platform for the steel circulation in southwest China.

As per report, the CNY 2.8 billion worth project was co invested by Chongqing Sinosteel Investment Group, Chongqing Railway Investment Group Co Ltd, China Commodity Exchange Co Ltd etc and is to become the largest metal materials distribution base in southwest China after it completes.

The project mainly focuses on scrap processing, railway freight organizing and spot steel trading.

The project is expected to take back the investments and turn in more than CNY 2.5 billion of taxes within 5 years. Meanwhile it will provide nearly 10,000 working positions.

(Source: http://www.xinhuanet.com)