According to Mr Ge Haijun director with the Administration Committee of Jinhai Economic Zone in Shengyang, capital of Liaoning province, "All procedures necessary for the establishment of Sinosteel Scrap Metal Processing Base have been finished."

Daily Economic News reported that this base is the strategic target of Sinosteel Corporation funded CNY 8.4 billion and now is coming to the stage of construction.

 
As per report, Shengyang will become the integrated industrial base that Sinosteel has in North China, covering metal resource stocking, processing and provision after the completion of the construction.

 
As per the expectation by www.worldscrap.cn, the scrap metal processing base will process and dispatch some 1.5 million tonnes of scrap steel, disassemble 500,000 abandoned autos, process 20 million tonnes of ore fine and produce 5 million tonnes of oxidized pellet by that time.