Castle Peak Steel Group Overseas Investment Was Supported To Build Four Cold-Rolled And Ferrochrome
Recently, the Export-Import Bank Shanghai Branch United Business Department, Zhejiang Branch, Zhejiang Branch provided overseas investment loans to Qingshan Iron and Steel Group through an in-bank syndicate to support its investment in the construction of the Qingshan Industrial Park Phase IV project in Indonesia.
Indonesia is a country along the maritime Silk Road Economic Belt. Its nickel, copper, gold, and silver are rich in mineral resources and possess 60% of the world’s lateritic nickel ore. Castle Peak Iron and Steel Group under the Shanghai Ding Investment Co., Ltd. and Indonesia’s Eight Star Group to invest in cooperation, with MOROWALI County, Sulawesi Province about 47,000 hectares of nickel ore mining rights, and in 2013 in the county to set up Castle Peak Industrial Park. The industrial park was included in the framework of China Indonesia’s comprehensive economic cooperation zone signed in October 2013.
Aoyama Industrial Park Phase IV Project will form 600,000 tons of ferrochrome and 700,000 tons of cold rolling capacity to support the demand for raw materials in the park and expand the production line. The total investment of 460 million U.S. dollars, of which 320 million U.S. dollars through the Export-Import Bank syndicated loan solve.
The smooth implementation of this project is of great significance to solving the overall shortage of domestic nickel resources, promoting Sino-Indian cooperation in production capacity, driving local employment in Indonesia, and enhancing the international competitiveness of enterprises. This shows that Ex-Im Bank is supporting “international capacity-production cooperation” and boosting China Enterprises’ participation in the “Belt and Road” project construction plays an important role.