China's Jigang Group plans to construct industrial park in Primorye to house metallurgical enterprises

VLADIVOSTOK. Sept 16 (Interfax) - China's Jigang Group Co., Ltd. plans to consturct an industrial park in the Primorsk Territory to host metallurgical, metal-processing, and other industrial enterprises, the corporation's CEO, Xu Qiang, announced during a meeting with Far East and Arctic Development Corporation (FEDC) Primorye subsidiary director Alexei Dunayev.

Jigang Group is noted to be a partner of two residents of the Vladivostok Free Port, namely Vostochnaya Stal LLC wholesale metal trader in the city of Ussuriysk, and Lider Stal Vostok LLC metal processer, also in the city of Ussuriysk.

Dunayev suggested that the investor consider obtaining resident status under the preferential regime of an international advanced special economic zone (international ASEZ) in order to implement the new project.

Dunayev noted that residents of the international ASEZ benefit from tax incentives and receive guarantees that operating conditions will remain unchanged for 15 years. FEDC Primorye is prepared to provide a 100-hectare site for the project and supply the necessary infrastructure.

The Jigang Group is considering the extraction and processing of minerals, specifically tungsten, copper, quartz sand, tin, and lead, among other potential areas of cooperation. The corporation is also prepared to participate in project investment.

Founded in 1958 in Jinan, the capital of Shandong Province, China, Jigang Group currently operates in several sectors, including metallurgy, machinery manufacturing, and advanced steel processing.