Zhanjiang Longteng Logistics Co Ltd set to launch China’s first five million t/y pellet project, a 2.5 billion yuan project jointly established by Baosteel, Shaoguan Steel and Zhanjiang Port Group and consisting a 50,000 dwt dock, a stock yard, a pellet production line and infrastructure facilities. The project is part of the Baosteel-dominated Zhanjiang Steel base that will produce 9.2 million tons of pig iron, 10 million tons of steel and 9.4 million tons of steel products from the end of 2011 with a total investment of 140 billion yuan.