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Chinese corporation plans to build a steel plant in Primorye - EastRussia | Far East

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Chinese corporation plans to build a steel plant in Primorye

HBIS Tangsteel, one of the leading metallurgical corporations in China, plans to acquire a metallurgical plant in the Khabarovsk Territory and build a steel plant in the Primorye Territory. The amount of investment in the project will be about 1,5 billion euros.

The Chinese corporation participates in the implementation of major projects for the construction of high-speed highways, nuclear power plants, bridges in China, as well as in various projects in the United States, Switzerland, and South African countries. Now the company is interested in cooperation with the Far East of Russia. The investor is attracted by the development of the territory, as well as many benefits and preferences.

According to the press service of the regional administration, Primorye was chosen to accommodate the new enterprise because of its geographical location and proximity to the APR countries. Now, Nakhodka, Slavyanka and other ports are considered as a platform for locating the future of the enterprise. The final decision on the construction site investors will take after the inspection of all available areas.

Primorye authorities are interested in the project, but they are asked to comply with two criteria - environmental friendliness of production and a reference point for local consumers of products, for example, at the Zvezda shipyard, which needs sheet steel. Van Lanyu, Chairman of the Board of Directors of HBIS Corporation, stressed that the Chinese side is looking forward to cooperating with the Zvezda plant and is ready to provide all the necessary documents confirming the safety of the future metallurgical production for the environment.