Famous steel enterprises are vie one another to settle at the New North Zone of Chongqing Municipality in Southwest China this year, according to the zone's administrative commission.

    China's largest steel maker Baosteel (600019. SH) has invested 700million yuan in building an auto steel structure-processing base on 13.33 hectares of land. The base has an annual steel capacity of 300,000 tons, contributing 120 million yuan of sales revenue every month.

    Wuhan Iron and Steel (600005. SH)'s process and distribution center in Chongqing is under construction on 4.67 hectares of landwith an investment of 100 million yuan. It has four shearing lines with an annual shearing capacity of 200,000 tons.

    Panzhihua Iron and Steel, one of the largest steel makers in western China, has built a factory in cooperation with two of the world's top 500 enterprises including the Japan-based Marubeni-Itochu Steel Inc., focusing on the manufacture and sales of high-quality auto steel. The annual output value is expected to reach 1.2 billion yuan upon completion.