Epoxy curing agent News Tsingshan Holding Group and Huafon Group jointly invest US$3 billion in overseas base construction

Tsingshan Holding Group and Huafon Group jointly invest US$3 billion in overseas base construction

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On the morning of August 27th, Tsingshan Holding Group and Huafon Group signed a “going out” strategic cooperation agreement in Wenzhou. The two parties plan to invest 3 billion US dollars in Indonesia to build a metallurgical -Comprehensive chemical production base, the two parties have already started preparatory work for the corresponding project. This marks that the two industry-leading enterprises that started in Wenzhou have formed a strategic partnership of strong alliances, complementary advantages, and resource sharing in participating in the “Belt and Road” construction.





Tsingshan Holding Group is a Fortune 500 company focusing on building a complete upstream and downstream industrial chain of stainless steel. It has invested heavily in Indonesia and other places before; A strong enterprise, the scale of spandex fiber, polyurethane and other products ranks in the forefront in China. The two parties invested 3 billion US dollars to establish a joint venture company in Indonesia, aiming to jointly explore a new model of coupling, synergy and circular development of the steel and chemical industries, and strive to build a metallurgical-chemical comprehensive production base with world-class competitive advantages. Further accelerate the process of internationalization, expand development space, upgrade the industrial level, and enhance competitiveness.


The two top 500 companies have formed a strategic cooperation, and will jointly invest in the construction of 12 million tons of coke per year and supporting integrated circular economy projects on Big K Island, Indonesia, which is rich in resource reserves. It is understood that the project will be completed in two phases: the first phase will build coke, semi-coke and other materials needed by the steel industry, and use by-products such as coke oven gas to produce synthetic ammonia, nitric acid, LNG, etc.; the second phase will be Use the by-product crude benzene to further develop new polymer materials, such as polyurethane, polyamide, and degradable plastics.





“Jumping out of Wenzhou to develop Wenzhou and developing in groups to the world is the crystallization of the wisdom of Wenzhou people’s economic boom.” You Xiaoping, chairman of the board of directors of Huafon Group, said that Huafon Group and Tsingshan Holding Group are affiliated The chemical industry and the steel industry are both capital and technology-intensive industries. They not only have the common industrial layout of “close to resources, close to the market, and close to the port”, but also have the industrial synergy effect of “resources and energy can be complementary, shared, and recyclable”. Relying on the existing industrial base of Tsingshan Indonesia, adhering to the concept of “industrial complementarity and green development”, we will work with Tsingshan to do a good job in the article of circular economy in the steel and chemical industry, and jointly build a world-leading industrial base for circular economy.


Xiang Guangda, chairman of the board of directors of Tsingshan Industrial Group, said that the cooperation between the two parties is based on the country’s implementation of major overseas strategies such as “going out” and “one belt and one road”, and strengthens cooperation between the two parties through resource sharing, complementary advantages and business innovation abroad The breadth and depth will promote both parties to accelerate the pace of transformation and upgrading and international operation, and actively promote the implementation of the content of the agreement as soon as possible to achieve mutual benefit and win-win results. “Going out” plays an exemplary and leading role.


Xiang Bingxue, chairman of Tsingshan Holding Group, and You Feiyu, chairman of Huafon Group, signed the strategic cooperation agreement respectively.

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