Hebei's first private steel enterprises will go out and build factories in Malaysia

"Going out" private enterprises to participate in international co-production, Hebei Wuan Iron and Steel Group wen'an Steel Co., Ltd. Hebei Province as the first cooperation with China Metallurgical Group in Malaysia, building an annual output of 5 million tons of China Prepainted Galvalume Steel sheet and 300 tons of cement, 2 million tons of coking, 1 million tons of cold-rolled, 1 million tons of welded steel enterprise resource utilization.
27 afternoon, Hebei Wuan Iron and Steel Group Co., Ltd. and wen'an Steel Metallurgical Group to invest in the Malaysian steel project cooperation memorandum signing ceremony in Handan Zhao Hotel. According to reports, this is Wu'an push steel production capacity, "going out" an important measure of capacity to participate in international cooperation and significant progress, also in Hebei Province-depth implementation of the "going global" strategy, and actively participate in the foundation "along the way" building on the first private enterprises landing "along the way."
It is understood that Malaysia's Sarawak state government to wen'an Steel and China Metallurgical Group to invest in steel mills to provide various advantages conditions.
Malaysia's Sarawak state government minister industrial Amar Haji Dengya Bin Datuk Ali Hassan attended the signing ceremony, "Today is the history of Sarawak another major milestone," he said, Sarawak the state is Malaysia's largest state, population 2.7 million, is currently the state has successfully achieved the transformation from traditional agriculture to manufacturing and services, is Malaysia's third largest economy in the state.
Hassan said the Sarawak state government is business-friendly government, foreign investors can enjoy tax concessions. As national policy, investors can enjoy preferential pioneer investors, investment tax allowance and reinvestment allowance. In the Sarawak state level, the state government to provide investors with price of land and water and electricity. In addition, Sarawak excellent strategic position, is to have 625 million people of the ASEAN Economic Community entry points.
Gao Wei, Vice President of Hebei Wuan Iron and Steel Group, told reporters that the local government of Malaysia is given exemption from corporate income tax within a decade, a very attractive addition, Malaysia has a natural harbor and transport, logistics advantages, so that steel production significantly reduce the cost.
According to reports, the project after the completion of Malaysia, not only relying on its strategic location covering South Asia, Middle East, East Africa and other emerging markets, but also to avoid the United States and Europe against Chinese steel products anti-dumping measures, to be a good example of international cooperation in capacity.
Gao Wei said, "Overall, iron and steel production as well as Wu'an Handan serious excess capacity, the advantages of part production transferred abroad, to promote economic development and Malaysia are good."



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