Baosteel Group Corp, China's biggest steel maker, will shift a heavy-plate production line from Shanghai to the western region of Xinjiang as the city prepares for the 2010 World Expo.
Baosteel unit Xinjiang Ba Yi Iron & Steel Co will pay 109.9 million yuan (US$16 million) to buy part of the facilities in Shanghai from another Baosteel subsidiary.
(Shanghai Daily July 31, 2008)
