MCC Hands over Construction Work at Sino Iron Project to CITIC Pacific

SHANGHAI, Dec. 27 (SMM) – Metallurgical Corp. of China (MCC) is handing over future construction work at the Sino Iron project in Western Australia to the owner CITIC Pacific Ltd.

As the construction of the first and the second production lines of the project have completed, MCC will hand over construction works of the remaining four production lines to CITIC Pacific’s local subsidiary Sino Iron Pty Ltd., the contractor told both Hong Kong and Shanghai stock exchanges today.

``MCC will continue to take part in the subsequent technical service and management of the Sino Iron Ore Project, and both parties will launch the construction works on the third to the six production lines as soon as possible,’’ it said in the statement.

The first shipment of fine iron powder was loaded and shipped to China from the Sino Iron project, China's biggest investment in Australia, weeks earlier this year after long delays.