It is reported that Zhanjiang Dragon Logistics Co Ltd jointly funded by Baosteel Group, SGIS Songshan Co Ltd and Zhanjiang Port Group, witnessed August 27th a startup ceremony for the Pellet Project.

As per report, this project was invested a total of CNY 3.2 billion aiming to build an annual 5 million tonnes pellet production line, two 50 million tonnes berths for dry bulk unloading and a dock equipments with capacity of 50 million tonnes of pellet.

Mr Xu Lejiang president of Baosteel Group said this is China's largest pellet production line which Chinese people research independently and own its complete proprietary intellectual property rights, and it breaks the long term monopoly on large-scale pellet production technologies by overseas companies.

He said that all yielded pellet will be used as ingredient for steel making for Baosteel and SGIS, a turning point for them to change their complete dependency on imports.