$30m project settles in Jiuyuan district

A technical upgrade project worth more than 200 million yuan ($29 million) is to settle in the Jiuyuan district of Baotou, Inner Mongolia autonomous region, reports Baotou Daily.

Wholly invested by the Inner Mongolia Baotou Steel Hefa Rare Earth Co, the project will cover an area of 120 mu (eight hectares). Work on the project is scheduled to begin in May and will be completed by March 2018.

The project is expected to offer 500 job vacancies and contribute some 500 million yuan to the autonomous region’s revenues once put into production.

Headquartered in Baotou Rare Earth High-Tech Industrial Development Zone, the Inner Mongolia Baotou Steel Hefa Rare Earth Co is a leading rare earth company with annual revenues exceeding 500 million yuan.