11 Jan '11
Chinese company Luneng intends to invest about $650m building an ore mining factory in Zabaikalsky region, news agency RIA Novosti reports.
The factory and infrastructure facilities are reportedly to be based at Beryozovsky iron ore deposit, located in the region’s South-East part.
The factory’s projected annual capacity is 6 million tons of cast iron bars.
The company is currently undertaking geological exploration at the deposit.
Construction of the factory is scheduled to start by the end on 2011, further timeframes for the project have yet to be disclosed.