Hegang's $4.4 billion to help the Philippines achieve its steel dream

Following the acquisition of Swiss Deco International Trade and Serbia's only state-owned steel company Smederevo Steel, Hebei Steel Group (hereinafter referred to as “Hegang Group”), the world's third largest steel company and the second largest domestic steel company, recently signed overseas. Make big investments.

According to the China Business Administration in the Philippines, on December 14, the signing ceremony of the Heilongjiang Group's Philippine Steel Project Cooperation Memorandum was held in the Ministry of Trade and Industry of the Philippines. Philippine Minister of Trade and Industry Lopez, Defense Minister Lorenzana, Investment Director Rudolph, Commercial Counsellor of the Chinese Embassy in the Philippines Jin Yuan, Vice Governor of Hebei Province Li Qian, Chairman of Hegang Group Yu Yong, Chairman of Huili Fund Meng Xiaosu and other attendees.

According to reports, the project is led by Hegang Group and the Asian Steel Company of the Philippines to form an investment consortium, and plans to build a steel conglomerate integrating port, sintering, coking, pelletizing, iron making, steel making, rolling and deep processing. The supporting production scale of iron and steel is about 8 million tons/year, with a total investment of about 4.4 billion US dollars and a construction period of 3-5 years. The project is located in the Pfeiffer Industrial Park in Cagayan de Oro, Mindanao, Philippines, with a site area of ​​3 square kilometers.

Li Qian said that Hebei Province actively responded to the consensus reached by the two heads of state on strengthening the "One Belt, One Road" cooperation, and actively promoted Hebei enterprises to invest in the Philippines. It will provide all support and strive to build the project into a "One Belt, One Road" capacity cooperation between China and the Philippines. The model has become a symbol of friendship between the two countries.

Lopez said that the project is the Philippines' first comprehensive long-flow steel project and is China's largest investment project to the Philippines so far. The project will help the Philippines achieve the "Steel Dream" and greatly promote the overall development of the Philippine manufacturing industry. Increasing the Philippines' export capacity will help reduce the Philippines' trade deficit.

In fact, for the Hegang Group, the overseas sector has always been a key sector. In its business classification, compared with other steel companies, it is rare to include the overseas section directly in one of the four major sectors, ranking second only to the steel industry.

The official website of Hegang Group shows that the overseas sector is located in Europe, America, Africa and other regions, and now has “four steel and two mines and one platform”, including Swiss Decker, South Africa PMC, Australia Willara Iron Mine, Hegang Serbian Company, Macedonia Company. South Africa Cape Town Company, American Craher Company and 22 overseas service centers.

At present, Hegang directly or indirectly participates in shares, holding about 70 overseas companies, investing in more than 30 countries and regions including the United States and Britain, Australia, South Africa, Canada, Singapore, Switzerland, Hong Kong, etc., controlling the operation of overseas assets of 6 billion US dollars, overseas employees Up to 12,000 people.

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