Steelmaker transforms production base into tech innovation park

China Baowu Steel Group launched 10 major projects in late December in Baowu Wusong Park in Shanghai's Baoshan district, with total investment exceeding 13 billion yuan ($2.01 billion). The projects are part of the group's efforts to transform a steel production base into a modern technological innovation park, said its chairman.

"This area used to be a steel mill with a history that can be traced back to the 1930s. But now, we are going to build it into a technological innovation park. This very place where I am standing－a modern convention and exposition center－was converted from a blast furnace," said Chen Derong, chairman of China Baowu Steel Group, at a groundbreaking ceremony for the new projects.

The projects in its Wusong Park that were officially unveiled in June. They will be developed into 513,000 square meters of gross floor space, including an advanced materials research and development exhibition center, a cloud supercomputing center, a digital technology experience center and a technological innovation industrial project.