The steel trade and logistics industrial park invested by Harbin Industry Investment Group officially resumed construction on March 18.

The industrial park is located in Harbin, the capital city of China’s northernmost Heilongjiang province, and has received a total investment volume of 3.5 billion yuan ($525.13 million).

The construction of the industrial park primarily includes commercial-integrated service areas, steel-trade areas, steel structure production and assembly areas, intelligent processing areas and ancillary facilities.

In 2021, an investment volume of 1 billion yuan is expected to be completed. The main construction of the steel-trading zone and commercial comprehensive service zone should also be completed before the end of the year.

Harbin Industry Investment Group is striving to promote the project’s construction and develop new businesses by including companies into the newly-established Harbin Gutie Group. Among these firms: Harbin Gutie Market Co, Harbin Light Industry Construction Group Co, Harbin Import and Export Group, Harbin Hongye Real Estate Comprehensive Development Co and China Harbin International Economic and Technical Cooperation Corporation.

It aims to build a light-duty process-supporting industrial cluster integrating five functional areas: the steel trade, steel structure production and assembly, intelligent processing, dedicated line storage for railways and commercial integrated services.

When the industrial park goes into operation, it is expected to achieve an annual revenue of 30 billion yuan and provide jobs for around 10,000 people.