Tangshan Iron & Steel Group, China's sixth-largest steelmaker, and Beijing-based Shougang Group plan to build a harbour to handle iron ore imports for a proposed 48.2 billion yuan (HK$45.4 billion) steel mill.
The partners will ship raw materials from Australia and other countries to a planned 15 million tonne-capacity steel mill to compete with Shanghai Baosteel Group, Tangshan city official Lou Xiangming said. "We plan to build a port just like Baosteel has done in Shanghai."
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