Greater China

Hebei Steel plans logistics parks

Beijing: Hebei Iron and Steel Group plans to develop logistics parks in both Huanghua port and Caofeidian port following the plan of its subsidiary Shijiazhaung Steel to build a new production base in Huanghua. The project is still waiting for approval.

Hebei Steel earlier announced an estimated profit decline of 74%-99% year-on-year and plans to issue RMB5bn in bonds to raise funds.

An analyst reckons Hebei Steel might use the funds on the logistics park project and use the park to stockpile its products as it has been suffering from serious overcapacity problems. [20/02/13]

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