CHINA: SIDERURGIA NO
MARANHÃO / MILLS TO [BACABEIRA CITY], STATE OF MARANHÃO, BRAZIL
Revisão_01;
24Oct2016
News website WEEK
IN CHINA: PAPER supported by HSBC
CHINA AND THE
WORLD
Mills to Maranhao: Why
China is shipping its steel plants to Brazil [03Jun2016]
Source: Week in China; Jun 3, 2016 (WiC-327)
https://www.weekinchina.com/2016/06/mills-to%E2%80%88maranhao/
Acess RAS in 24Oct2016.
1.
FLAVIO DINO,
governor of the state of Maranhao in Brazil has a few things in common with
China’s leader Xi Jinping. Both are
members of their countries’ respective Communist Parties, for instance, and
both have pledged to fight corruption.
2.
Both may benefit from a new
agreement to build a steel plant in the northeastern Brazilian state as well.
For DINO, the steelworks would bring
much-needed investment to one of the country’s poorest states. And for XI, the investment could be a sign that
China’s steel companies are getting the message That there’s too much steel at
home. (Nor can the surplus simply be sold overseas, as the rising tide of
anti-dumping cases against the Chinese demonstrates.)
3.
Jiemian.com says the Chinese companies behind the joint venture
are Shandong Taishan, Shandong Yiyuan, Beijing Huiquan and Maiduo
Investment.
4.
One of the JV’s officials ZHANG SHENGSHENG told the news website
that the Maranhao state government has offered 20 square kilometres of land for free [Municipality of Bacabeira, State
of Maranhão; 51 km from the capital in the São Luís island].
5.
Start-up capital for the project
will be provided by China Development
Bank and some of the capital equipment will be imported from redundant
steel mills in China.
6.
The venture’s vice chairman XU
ZHONGBO also told the website that the partners have approached big steel
producers such as Anshan Iron and Steel
and Maanshan Iron and Steel for
investment. Anshan’s chairman TANG FUPING says a feasibility study
has not yet been carried out, but says the group would be interested if the
project has a realistic chance of getting off the ground.
The caution is warranted. For years Baosteel tried to establish its
own steel plant in Brazil in a joint venture with local giant Vale. That
$3.6 billion project envisaged five million metric tonnes of production
from a plant based on Sao Luis Island. But it ran into a host of problems
including environmental protests and an intransigent local government,
which wanted to move it to another location inland.
8. After three years of disputes,
Baosteel and Vale tried to shift the project to another state, Espirito Santo,
only to abandon the idea completely two years later after more environmental
protests and falling steel prices.
9. Since then Maranhao has acquired
its new governor. Two years ago Dino, a former judge, ousted the Sarney family,
a powerful dynasty that had controlled the state for more than half a century.
Local newspapers say he is prioritising the steel plan because he hopes that
success with the plant will encourage other Chinese companies to invest in
Maranhao. In return, the joint venture will benefit from a substantial
reduction in state taxes for the first 15 years of its operations.
10. From the Chinese government’s
perspective, shifting 10 million tonnes of surplus capacity offshore is
encouraging. However, the switch would account for a tiny proportion of the
overcapacity that the authorities are trying to shut down.
11. Although the announcements keep
coming on how much of the sector is going to close (in February there was
another pledge to withdraw 100 to 150 million tonnes of production over the
next five years) progress on the ground has been painfully slow. Local
governments don’t want to lose the jobs or give up tax receipts. And when mills
have closed or been mothballed, it has been hard to stop them reopening when
they glimpse higher prices.
12. In March [2016] China’s steel
production actually reached an all-time
monthly high of 70.7 million tonnes, with mills firing up again as steel
prices began to creep up. The country
now has official capacity of 1.13 billion tonnes, accounting for roughly
half the global total, and last year it exported about 112 million tonnes,
prompting protests from the European Union and the US, where the Department of
Commerce announced new anti-dumping measures against China and Japan last
month.
13. China’s Ministry of Commerce is
upset, claiming that Washington is “deliberately suppressing the export of
Chinese steel”. But it seems the EU could follow suit. Ahead of the G7 meeting
in Tokyo this Thursday, European Commission President Jean-Claude Juncker told
Reuters, “If someone distorts the market, Europe cannot be defenceless.”
THE JOINT VENTURE AT A GLANCE [by
RAS; preliminary version; 24Oct2016]
- Purpose: To implant a steel plant complex in
the municipality of Bacabeira, State of Maranhão
- Joint Venture: CB Steel - China Brasil Steel (empresa chinesa constituída para investimentos no Brasil)
- CEO CBSteel: ZHANG SHENGSHENG
- Joint venture’s vice chairman XU ZHONGBO
- Companies involved:
i.
Shandong Taishan,
ii.
Shandong Yiyuan,
iii.
Beijing Huiquan* [Beijing Huiquan International Investment Co., Ltd.]
iv.
Maiduo Investment.
- Financing:
China Development Bank
- Potential partners:
Anshan Iron and Steel
Maanshan Iron and Steel
- Land for the project: 20 sq.km (offered by the
State of Maranhão).
- Project price tag: US$ 4 billion (?)
- MoU signature date: 19Aug2015 [Brasília] State
of Maranhão with Beijing Huiquan Empresa
de Investimentos Ltda.,
PROFILE
Beijing
Huiquan International Investment Co., Ltd.
President: DONG FANGJUN (Director of the China
Association for International Friendly Contact)
Source: China
Association for International Friendly
Publish
Date:2011-10-19
I. Basic Information of Company
Beijing Huiquan International Investment Co.,
Ltd., established in 1997, is a comprehensive service enterprise engaging on
industrial investment, equity investment and investment consulting and
management, with a registered capital of 50 million yuan, total assets of
nearly 500 million yuan, permanent investment of 250 million yuan and current
investment of nearly 100millionyuan. Through over ten-year operation, the
company carried out investment cooperation in energy sources, finance, modern
commerce and modern agriculture successively and achieved great results）.
The company owns outstanding personnel consisting
of doctors and masters as well as sophisticated management experience. The
company holds the operation principle of “integrity, practicality and joint
development” all along and serves the society wholeheartedly.
PROFILE
Anshan Iron and Steel Group Corporation
(Ansteel)
http://www.steelads.com/view/companies/168/Anshan_Iron_Steel_Group_Ansteel.html
Anshan Iron and Steel Group
Corporation (Ansteel) is situated in Anshan, Liaoning Province. The Anshan area
abounds with the rich iron ore resources. The proved reserves make up one
fourth of the total reverses in the country. Additionally, the rich magnesite,
limestone, claystone, manganese are distributed over the Anshan area, which are
the uncommon auxiliary materials for the metallurgical industry. Anshan has
convenient communications. Zhong-Chang railway and Shen-Da expressway pass
through the urban area of Anshan, linking with Dalian Port, Yingkou Port and
Bayuquan Port in the vicinity and opening into the world.
Initially came into being in 1916
and grew out of Anshan Ironworks and Shouwa Steelworks, Ansteel was established
in 1948 and rebuilt into an earliest large-sized iron and steel production base
in New China, thus having the reputation of the cradle of the Chinese steel
industry and the eldest son of the Republic's steel industry.
Ansteel has
made great contribution to the national economic construction. In 60 years,
Ansteel cumulatively produced 375 million tons of pig iron, 381 million tons of
raw steel and 277 million tons of rolled steel, and paid the tax and profit of
124.5 billion yuan, equivalent to 23 times of the State's investment for
Ansteel, and also delivered nearly 60000 outstanding cadres, engineers,
technicians and skilled workers to the various parts of the country and
provided the training of more than 11 thousand people across all kinds of
talents.
·
Product List:
MAANSHAN IRON & STEEL COMPANY LIMITED (THE
"COMPANY")
http://www.steelads.com/view/companies/175/Maanshan_Iron_Steel_Company.html
Maanshan Iron & Steel Company
Limited (the "Company") was set up on 1 September 1993 and was
regarded by the State as one of the nine pilot joint-stock limited enterprises
which formed the first batch of overseas listed companies. The Company's H
shares were issued overseas during 20-26 October 1993 and were listed on The
Stock Exchange of Hong Kong Limited (the "Hong Kong Stock Exchange")
on 3 November 1993. The Company issued RMB common shares in the domestic market
during 6 November through 25 December 1993. These shares were listed on the
Shanghai Stock Exchange (the "SSE") in three batches on 6 January, 4
April and 6 September in the following year.
On 13 November 2006, the Company
issued bonds with warrants ("Bonds with Warrants") on the SSE. On 29
November 2006, the Company's bonds and warrants were listed on the SSE.
The Company is one of the largest
iron and steel producers and marketers in the PRC, and is principally engaged
in the manufacture and sale of iron and steel products. The manufacturing
process primarily involves iron-making, steel-making and steel rolling
projects. The Company's principal product is steel products which come in four
major categories: steel plates, section steel, wire rods and train wheels.
The Group's principal activities
are the manufacture and sale of iron and steel products. The production process
of the Group mainly comprises cooking, sintering, iron smelting, steel smelting
and rolling.
The principal steel products come
in four major categories: steel sections, wire rods, medium or thick steel
plates and train wheels and tyres.
It imports
machinery and raw materials and exports steel products. It is also involved in
the planning and designing of automation system, metallurgical, construction
and environmental protection projects. Other activities include purchase,
installation and repair of computers and communications systems; production,
sale and transportation of slag products and provision of related consultation
and technology services.
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