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Chinese investor chose a site for a plant in Primorye - EastRussia | Far East

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Chinese investor chose a place for a plant in Primorye

Chinese investor chose a place for a plant in Primorye
Photo: pixabay.com

The Chinese corporation HBIS Tangsteel, which plans to build a metallurgical plant in the Primorsky Territory, has previously chosen a place to place it. Now investors are going to work out the creation of a communal infrastructure for the object.

According to the press service of the regional administration, a foreign company will have to register an enterprise in Primorye and pay taxes to the regional budget to implement the project. Also, the investor will have to make the production environmentally friendly and give priority to local residents in employment. Only in this case one of the leading metallurgical corporations in China will receive support.

An investor from the PRC chose Primorye to accommodate the new enterprise because of the geographical position of the region and its proximity to the countries of the Asia-Pacific Region. The volume of investment in the object will be about 1,5 billion. At the same time, the company plans to cooperate with the Zvezda shipyard, which needs sheet steel.