Wuhan Iron and Steel, China’s third largest iron and steel producer, recently confirmed its plan to invest several hundred million Renminbi in seven ports across the country to facilitate the transportation of its raw materials and finished goods via waterways. The ports include Ezhou and Wuhan’s Yangluo terminal, both in Hubei province, Taicang in Jiangsu province, Zheshan in Zhejiang province and Fangchenggang in Guangxi Zhuang autonomous region.

With an annual steel output of 50m tons, the company said that its transport costs could be reduced by Rmb20 per ton. This would equate to a saving of Rmb370m for the 18.45m tons of iron ore it imported in 2008.