China Minmetals pioneers in supporting the Belt and Road Initiative
chinagate.cn, August 9, 2017 Adjust font size:
“We must firmly grasp the strategic opportunities of the Belt and Road Initiative, with a greater focus on expanding our overseas markets. When operating across the whole industry chain, China Minmetals has an edge in resource integration and efficiency that distinguishes us from our main competitors,” said Guo Wenqing, President and Party Group Deputy Secretary of China Minmetals.
China’s largest metals and minerals corporate group, China Minmetals, is a pioneer in supporting the Belt and Road Initiative.
China Minmetals is determined to become a driving force for the Belt and Road Initiative. According to the company’s leadership, the Belt and Road Initiative has become an integral part of its development strategy. Based on the principles of extensive consultation, joint contribution, and shared benefits, China Minmetals is seeking new scope for international cooperation in areas like international trade, mining investment, and overseas projects.
With operations in 27 countries along the Belt and Road—representing about half of the total number involved—China Minmetals is “going global” while sticking to sustainable development. By creating more than 13,000 job opportunities and demonstrating a commitment to social responsibility, China Minmetals is making a significant contribution to improvements in local healthcare and well-being. On top of this, 91 enterprises are set to provide services in metallurgical engineering, exploitation of mineral resources, urban infrastructure construction, and individual projects.
On May 29th, 2017, the No. 1 Blast Furnace of Formosa Ha Tinh Steel Corporation began hot smelting. This marked the entry into service of Formosa Ha Tinh Steel Corporation, the largest ever investment in Vietnam and the biggest integrated iron and steel enterprise in Southeast Asia.
On Oct. 27th, 2013, the Colombo-Katunayake Expressway opened to traffic. This marked the completion of the first expressway in Sri Lanka, a milestone in the country’s infrastructure history. Hailed as the “best road into the country” by former President Mahinda Rajapaksa and his fellow Sri Lankans, the expressway plays an important role in promoting Sri Lankan tourism and economic growth.
Duddar Lead Zinc Ore in Pakistan is under construction and is expected to go into operation in 2018. It is forecast that it will generate an annual profit of U.S. $19.36 million and provide more than 800 jobs for the locals.
In 2008, the China Minmetals subsidiary China Metallurgical Group won the tender for Universal Studios Singapore, with a contract value of 4 billion yuan (U.S. $595 million). It spent less than 18 months completing the project, a remarkable achievement in the construction of a world-class theme park.