Steady Development of Industry Investment
ˇ@ˇ@It is strategically important for HKCTS to change from a unitary travel service agency into a diverse investor. Steel and iron industry has become one of the three columns of the group, and electric power and petrochemical investment has obtained stable income for years.
The predecessor of the company was jointly founded in 1993 by the HKCTS and the Economic Development Company of Xugezhuang Town in Tangshanˇ¦s Fengnan District, with the HKCTS holding 51% of the joint venture. Today, the plant has grown into the largest producer (ranked 15) of hot-rolling strip iron nationally. The continuous casting and rolling project 1450mm (hot-rolling coiled material), with an independent intellectual property right in China, went into production. The project has enabled the Guofeng Iron and Steel Co. Ltd. to produce 5 million tons of iron, steel and rolled steel each annually, and rank among the largest iron and steel plants in China.