Huge steel project appoved in Guangdong

[badguy2000]

one huge project, Donghai Island steel plant,was approved by CHinese center government....

the investment on the project totals 11 billion USD. Once finished, the steel plant can produce 10M ton steel every year.
it will resettle 10K+ Population.

it will be located in Donghai Island, ZHanjiang citi, GUangdong province.

Zhanjiang city has a population of 7 M, and is one undeveloped city in GUangdong province.
After receiving the approving file from Beijing, the mayor of the city was so excited and couldn't help kissing the file.
The mayor said that the city has been lobbying for the huge project for 34 years ....

http://news.163.com/12/0530/10/82OEEB7T00014AEE.html

 

[badguy2000]

it seems that CHina silently starts changing its braking of its economy.

 

[Ray]

Watch the pollution.

If not checked a large majority of the people will add to the health bills of the nation and work thus negatively!

 

[satish007]

that's nothing ralate to economy, CCP just want to build more warships in south china sea, such as more aircraft fishing admin boats. Zhanjing will be a good place if there is a big stell factory.

 

[huaxia rox]

prc should just stop developing then i m sure my indian friends and sikh chinese friends wont have any problems here.....

 

[amoy]

Guess what ? I've been Zhanjiang which is the head quarters of South Sea Fleet, which was said to be relocated to Sanya??!! We also embarked on an island but I forget whether it's Donghai Island. Zhanjiang is beautiful, with islands, seafood... But it's a little under developed, comparing to the Pearl River Delta.

This steel plant is said to be built on condition of closure of some lesser / tech-backward steel capacity elsewhere in Guangdong, such that overall production not increasing.

 

[Armand2REP]

Not surpised.. CCP is so desperate for stimulus they approved 100 major projects in one day. Building a steel plant when you are 26% overcapacity already = idiotic

 

[satish007]

prc should just stop developing then i m sure my indian friends and sikh chinese friends wont have any problems here.....

seriously, South China Sea will have big navy battles(China VS 23 countries) sooner and later , image 1000 war ships fighting together, many of them injured need be repaired and rejoin the battle ASAP.
Zhanliang will be good place, shorter distance, time to market.

 

[pmaitra]

Congrats to the Cantonese people.

On the apprehensive side, hope things don't turn out to be like this below:

Read more: When Photoshop goes wrong: 'floating' inspectors cause internet stir

 

[Ray]

China has to steel herself with the events unfolding internationally.

 

[amoy]

Read more: When Photoshop goes wrong: 'floating' inspectors cause internet stir

Mayor of Wenzhou was also caught in two news reports , amusingly, one mentioning his attendance at a 1-June Children's Day event, the other about his activities in US on the same day.

 

[satish007]

frankly I really really dislike this project, good West Cantonese beach ( even hainan island) will be destroyed.
this project need too much fresh water and produce too much pollution.

Maoming, near ZhanJiang, just had a smaller project 15 years ago, a very bad example.

will Indian protest if they have this kind of project able to provide a lot of jobs?

 

[pmaitra]

frankly I really really dislike this project, good West Cantonese beach ( even hainan island) will be destroyed.
this project need too much fresh water and produce too much pollution.

Maoming, near ZhanJiang, just had a smaller project 15 years ago, a very bad example.

will Indian protest if they have this kind of project able to provide a lot of jobs?

India is protest-country. We had protests in Gujarat (Sardar Sarovar Dam), West Bengal (Tata Nano Plant), Tamil Nadu (Nuclear Power Station), etc.. The list is long. PRC has a communist government, and everything about that is not bad, and when it comes to setting up projects, authoritarian regimes offers a lot of advantages over the Indian system.

 

[Daredevil]

Good for China. But are there any iron ore mines around this area or should they have to import from other countries?. For a steel plant to be successful and profitable it has to have plentiful iron ore in and around that place. Saves a lot on transportation and labour.

 

[satish007]

Good for China. But are there any iron ore mines around this area or should they have to import from other countries?. For a steel plant to be successful and profitable it has to have plentiful iron ore in and around that place. Saves a lot on transportation and labour.

whole China lack of good ironstone, import from AU, Brazil, may be Astan in the future.

 

[GromHellscream]

Though without iron ore mines, it's another kind of advantage that the steel plant itself is near the big market in Guangdon province and Southern part of China. In this way much cost can be saved on transportation from producer to consumer and the producer can have a better comprehension on custom's variable requirements as well. This applies the same to BaoGang steel plant in Shanghai which is the biggest and most advanced one in China.

 

[huaxia rox]

Building a steel plant when you are 26% overcapacity already = idiotic

then tata has to be the most idiotic......

Tata Steel to up China investment - IRON AND STEEL - Mineweb.com Mineweb

 

[Ray]

Steel is an important issue in China.

In fact, because of Mao's obsession with steel, he ordered backyard steel making leading to the Famine and deprivation!

At least, now it is being done in a modern way, though the pollution will be high!

 

[Armand2REP]

Chinese banks ordered by Beijing to cut lending to steel traders | Reuters

SHANGHAI, June 7 (Reuters) - Chinese banks, facing mounting bad loans from the property market and local governments, were ordered by Beijing to clamp down on new lending to steel traders, further weighing on a sector that has racked up $400 billion in debt...

China's 77 steel mills had total liabilities of 2.55 trillion yuan as of the end of 2011, up 16.82 percent on year, according to the China Iron and Steel Association.

Lending risks to steel traders began to emerge in the second half of last year, with many using the loans to speculate in the futures market or cover losses in other businesses, a senior official at the China Construction Bank in Shanghai told Reuters.

"Many steel traders face huge liquidity risks as steel prices slump," he said.

Product prices in May plummeted to their lowest levels in six months. And with margins in the steel industry now perilously low, banks have preferred to lend to sectors with higher returns.

 

[satish007]

though the pollution will be high!

agree, but this project is for relocation and merger, all GuangDong province heavy factories are moving to Zhanjiang, please adjust your missile 's targets. any updated, butt guy2000 will report you.
so I disagree butt guy2000 this time, nothing relate to economy, but China is doing it's duty, adjusting, combining smaller factories which means less carbon more green.
another top security is, why move to West, because HK, they insist , no heavey countries should near them.