An agreement to establish a new iron and steel logistics in Chengdu in China’s Sichuan Province has been signed by Sichuan Chemical Industry Holding Co., Sichuan Province-based Chengdu Liangli Steel Logistics Co. and Sichuan Taiyi Real Estate Company, as reported by Chengdu Daily on March 13. The total investment will be RMB 2.5 billion ($402.6 million), while the above three companies will have respective stakes of 40 percent, 40 percent and 20 percent in the new steel logistics center.
The whole project involves three construction phases. The first phase is expected to be completed in June 2014, while the total annual value of its iron and steel transaction activity is expected to reach RMB 10 billion ($1.6 billion) in 2015. Furthermore, the second and third phases will be finished by the end of 2015 and 2018 respectively, with respective overall annual values of iron and steel transaction activity with the commissioning of these phases to reach RMB 20 billion ($3.2 billion) and RMB 30 billion ($4.83 billion).
