On September 12, Chinese steelmaker Qingdao Iron and Steel Group Co. (Qingdao Steel) announced details of its relocation plan. Qingdao Environmental Protection Bureau had issued its environmental impact report for the project on the previous day. According to Qingdao Steel, its relocation to Dongjiakou harbor zone in the city of Qingdao in Shandong Province is expected to be carried out and completed within three years, with all facilities in the old plant to be closed down or relocated. The overall project is planned to be completed and commissioned by June 2015. "The exact date for the launch of the relocation project is still unclear. If everything goes well, it may start next year,' an official from Qingdao Steel stated. Currently, Qingdao Steel has annual output capacities of 4 million mt of pig iron, 4 million mt of crude steel and 4 million mt of finished steel. Constructed in 1958, the current site of Qingdao Steel, located in the heart of the city of Qingdao, is considered to have a negative impact on the environment. As indicated in the environment impact report, the total investment in the relocation project is expected to be RMB 16.408102 billion ($2.59 billion), including RMB 1.8506 billion ($292 million) to be spent on environmental protection. The relocation project in Dongjiakou harbor zone will include construction of a 7m coking furnace, a sintering machine, a 2,500 m3 blast furnace, a 120 mt converter, a high-speed wire rod production line, a continuous rebar production line and other facilities