Wednesday, August 27, 2008

Australian Mining Giant Said China Wants to Build 50,000 Skyscrapers

China SkyscraperRioTinto, one of the world's three major iron ore giants of Australia said that China will construct 50,000 skyscrapers in the next 20 years! Its size equivalent to 10 times than New York. RioTinto said that the news will create long-term and steady demand of raw materials, such as iron and steel industry.

According to the British "Guardian" reported, on August 27, the Rio Group forecast China will have 221 cities in population over 1 million in the future, but today the European population over 1 million of the city are only 35. McKinsey predicts, in addition to large-scale infrastructure building, China will build 20,000 to 50,000 skyscrapers, many of which will be built in less developed inland provinces, rather than big cities like Beijing and Shanghai.

Tom Albanese, the CEO of RioTinto, optimism said optimistically that there is no doubt that mineral industry is currently facing a huge demand, unprecedented.

Originally Posted: China Business Daily
Author: Angulo Fu