New China steel policy hits greenfield projects

Dec 13, 2005 | 08:09 AM | Hongmei Li

The approval of two major greenfield steel projects planned by Shanghai Baosteel Group Corp. and Wuhan Iron & Steel Group Corp. (Wugang) will be affected by the implementation of China's new steel policy.

The National Development and Reform Commission (NDRC) so far hasn't granted approval for the 20-million-tonne-a-year Zhanjiang project, co-funded by Baosteel and Guangdong Shaoguan Iron & Steel Group Co. Ltd. (Shaogang) in the southern Guangdong province, or the 10-million-tonne-a-year Fangchenggang project by Wugang and Liuzhou Iron & Steel Group Co. (Liugang) in the southwestern Guangxi province,....

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