3 Dec 2018 09:36

China's Tangsteel to build $1.5-bln-euro steel mill in Primorye

VLADIVOSTOK. Dec 3 (Interfax) - China's HBIS Tangsteel plans to build a steel mill in Primorye, the regional administration's press service reported.

"The corporation is interested in working with Russia's Far East. HBIS Tangsteel intends to acquire a metallurgical plant in Khabarovsk Territory, as well as build a new metallurgical enterprise in Primorye. According to the chairman of the corporation's board of directors, Wang Lanyu, the investors intend to invest about 1.5 billion euros in the creation of the plant," the press release said.

Primorye Deputy Governor Konstantin Bogdanenko said at a meeting with representatives of the company that Primorye is interested in production of steel plate because the Zvezda shipyard is being built in the region.

"We are foremost interested in having a plant in the immediate vicinity of the shipyard that makes steel needed for the production process in shipbuilding," Bogdanenko was quoted as saying.

Tangsteel is considering several locations for the new plant, including the ports of Nakhodka, Slavyanka and other ports. The company plans to view all available sites and then make a decision.