Beijing, March 14 – Shougang Group announced on March 12 in Beijing that China's biggest iron & steel industry center will be built on Caofeidian Island off Hebei coast. Besides, Shougang will shut down all its steel factories in Beijing before 2010.

Shougang's relocation is part of China's sustainable development strategy, and an important step to guarantee a green Olympic Games in 2008.

Caofeidian Island is located in the Bohai Bay, and at the Circum-Bohai Economic Ring, which offers the new iron & steel industry center a nearly infinite bright prospect.

Two 55-million-cubic-meter-scale blast furnaces will be built in the center (biggest in China and the 3rd biggest in the world), to produce 8.98 million tons of iron, 9.70 million tons of steel and 9.13 million tons of rolled steel every year when completed, making it the biggest of its kind nationwide.

Shougang Group will make its former company building, located 17 km west of the Tiananmen Square, its new headquarters and research center.

Beijing-Tangshan Steel Corp, a company jointly founded by Shougang Group and Tang Steel Group in October, 2005, will be responsible for the operation of the new iron & steel industry center.