CISA CONF 2018: Shaanxi Steel to expand international reach with investments in Indonesia
Date: Mar 30, 2018
West China’s Shaanxi Iron & Steel Group, aims to extend its international presence as part of the Chinese ‘one belt, one road’ initiative, with two steelmaking projects in Indonesia.
One steel complex Indonesia will have a capacity of 7.5 million tonnes, with Shaanxi working alongside Shandong Fuhai Group, which already operates a mine there with an iron ore concentrate production capacity of 6 million tonnes per year, Shaanxi Steel Group president Yang Haifeng told delegates at the China Iron & Steel Association’s 16th International Steel Market and Trade Conference in Xi’an on Thursday March 29.
“Indonesia imports 12 million tonnes of steel products every year, and [that is] expected to rise to 30 million tonnes by 2020,” Yang said. “This project will fill the gap in Indonesia’s steel market by producing steel locally [using] iron ore from Shandong Fuhai Group.”
