The municipal authorities in Tangshan in
China’s Hebei Province have announced that they will relocate local steel producer Tangshan Guofeng Iron & Steel Co. Ltd (Tangshan Guofeng Steel) plant and other steel enterprises to Fengnan Lingang economic development zone in Tangshan. The new production base of Tangshan Guofeng Steel and other steel enterprises will require an overall investment of about RMB 38 billion ($5.67 billion).