Minmetals to invest RMB 30 bln in industrial park

China Minmetals Corp, the nation's largest state-owned metal trader and producer, is to invest RMB 30 billion to build an industrial park in Liaoning, a province in Northeast China, announced the company in the inauguration of the industrial park yesterday.

Named the Minmetals Yingkou Industrial Park, the new industrial park covers an area of 20 sq km and is scheduled for completion in 15 years. Singapore Jurong International, the designer of Suzhou Industrial Park, will be planning and designing the industrial park for Minmetals.

Minmetals' mid-width steel plate manufacturing plant will be located in the metallurgy manufacturing area of the park. The company will be setting up a supply platform for raw materials and equipments, to meet the demand in the northeast region. It will also partake in real estate development and logistic services.

On the day of the inauguration, three companies entered into a RMB 6 billion agreement with Minmetals for an entry into the industrial park. France-based Air Liquide Group, the world's largest air supplier, will be investing RMB 4 billion for a branch in the park. Japan Kanematsu Inc will be investing RMB 800 million to construct a base for steel refining and automobile components, while China Lead Reitz Asset Management Corp will be building an industrial properties and logistic project.