Tsingshan Steel, established in Wenzhou in the 1980s, is a large-size enterprise dedicated to production and smelting of stainless steel. After development for over 20 years, Tsingshan has become an international group. Currently, the Board of Directors of Tsingshan Industry is based in Shanghai and Wenzhou, and now governs four groups, which are Tsingshan Holding Group Co., Ltd., Shanghai Decent Investment (Group) Co., Ltd., Tsingtuo Group Co., Ltd. and Eternal Tsingshan Group Co., Ltd., and more than 100 subsidiaries.
Tsingshan Steel has always been following the national development strategy of globalization and actively responding to “The Belt and Road” initiative. Eternal Tsingshan Group was set up when preliminary results were achieved in overseas market expansion. It is one of the entity-type enterprise management groups under the Board of Directors of Tsingshan Industry, and is responsible for managing all overseas projects planned by the Board of Directors of Tsingshan Industry. So far, Eternal Tsingshan Group has completed the international strategic layout in Indonesia, Singapore, India, the United States and other countries, and manages over 15 subsidiaries/representative offices.
Indonesia Morowali Industrial Park, the first overseas project of Eternal Tsingshan Group, is located in Morowali in Central Sulawesi Province, with total planned area of over 2,000 hectares. Settled in the park are PT. Indonesia Morowali Industrial Park (IMIP), PT. Sulawesi Mining Investment Indonesia (SMI), PT. Guangqing Nickel Corporations Indonesia (GCNS), PT. Indonesia Tsingshan Stainless Steel (ITSS), PT. Indonesia Ruipu Nichrome (IRNC), PT. Tsingshan Steel Indonesia (TSI), and PT. Dexin Steel Indonesia (DSI). Led by nickel industry chain, the park is able to drive the development of industrial cluster. In October 2013, the establishment agreement of Indonesia Morowali Industrial Park and first project JV and settlement agreement in the park were signed under the witness of Chinese President Xi Jinping and the then Indonesian President Susilo Bambang Yudhoyono, showing great attention and strong support from both Chinese and Indonesia governments; in May 2015, President Joko Widodo of Indonesia paid a visit to the park and announced that the project was put into service officially; in December 2015, the park was awarded Best New Industrial Park Award by the Ministry of Industry of Indonesia exclusively; in August 2016, it was recognized as China’s Overseas Economic and Trade Cooperation Zone by the Ministry of Commerce and Ministry of Finance jointly; in the evening of May 7, 2018, PT. Indonesia Tsingshan Stainless Steel (ITSS) and PT. Dexin Steel Indonesia (DSI), under Eternal Tsingshan Group, signed Term of USD 170 Million Loan to PT. Indonesia Tsingshan Stainless Steel and Memorandum of Understanding on Cooperation between China Development Bank and PT. Dexin Steel Indonesia in Annual Production of 3.5 Million Tons of Steel with China Development Bank on the dinner party of Indonesia-China Business Summit hosted by Premier Li Keqiang of China and Vice President Jusuf Kalla of Indonesia in Shangri-La Hotel Jakarta. In addition to Hengjia project with an annual output of 150,000 tons of ferronickel and DSI project with an annual output of 3.5 million tons of steel which are under construction, the park has established the world’s first industrial chain linking mining, nickel-chromium-iron smelting, stainless steel smelting, hot rolling, acid washing and annealing, cold rolling and downstream processing. Moreover, complementary projects like thermal power, pyroelectricity, coking, semi-coking, acid-making, ferrosilicon, silicomanganese, and logistics wharf are available in the park. In particular, the total installed power generation capacity of the self-owned power plant is over 2,000MW, production capacity of ferronickel 1.8 is million tons, production capacity of ferrochromium 300,000 tons, steelmaking capacity 3 million tons and hot rolling capacity 3 million tons. It is really the biggest stainless steel park with the longest industrial chain outside of China.