Русский
China’s Jigang Group, from Jinan in Shandong Province, plans to construct an industrial park in Russia’s Primorsky Territory to host metallurgical, metal-processing, and other industrial enterprises. Jigang’s CEO, Xu Qiang, announced the investment during a meeting with Alexei Dunayev of the Russian Far East and Arctic Development Corporation (ERDC).
Dunayev suggested that the company consider obtaining resident status under the preferential regime of an international advanced special economic zone (international ASEZ) in order to implement the new project. Doing so provides significant economic advantages such a low tax rates, and other investor motivations, such as guarantees that operating conditions will remain unchanged for 15 years. FEDC Primorye is prepared to provide a 100-hectare site for the project and supply the necessary infrastructure.
The Jigang Group is considering the extraction and processing of minerals, specifically tungsten, copper, quartz sand, tin, and lead, among other potential areas of cooperation. The company is also interested in project investment in Russia.
The company already partners with two residents of Vladivostok’s Free Port – Vostochnaya Stal LLC, a wholesale metal trader, and Lider Stal Vostok LLC metal processers. Both companies are from Ussuriysk.
An industrial park is a prepared area of land with ready-to-use infrastructure meant for opening and organizing new production facilities and warehouses. Ussuriysk appears to be the chosen location, and is part of a broader international trade cluster (spanning roughly 55 hectares) backed by the Corporation for Development of Primorsky Krai. Located near key transport arteries, roughly 45 km from the international airport, 5 km from the Vozdvizhensky railway station, it is connected via highway networks toward major Far Eastern ports and the Chinese border.
Founded in 1958 in Jinan, the Jigang Group operates in several sectors, including metallurgy, machinery manufacturing, and advanced steel processing for use in aircraft manufacturing. Russia intends to construct 570 domestically built commercial aircraft through to 2035.
Jigang Steel is indirectly listed through its successor entity, Shandong Iron and Steel Co., Ltd., which trades on the Shanghai Stock Exchange. The investment showcases another example of the growing collaboration and investments being made between Chinese businesses and the Russian Far East.
