en.Wedoany.com Report, On the afternoon of March 24th local time, Hu Wangming, Chairman of China Baowu, visited the site of Sinosteel International's Egypt Xinfeng project for an on-site investigation, extending his regards and appreciation to the stationed cadres and employees.

The responsible person of Sinosteel International reported on the company's recent operational status and the development of its overseas business. In 2024, Sinosteel International officially signed the EPC contract for the "2 million tons hot-rolled coil project" in Egypt with Xinfeng Steel (Egypt) Co., Ltd. This project is a greenfield project invested and constructed by Xinfeng Group in the Sokhna Industrial Park of the Suez Canal Economic Zone in Egypt. It is included in the list of key China-Egypt capacity cooperation projects under the national "Belt and Road" initiative and is a key investment attraction project for the Suez Economic Zone in Egypt.

Hu Wangming gained a detailed understanding of the project and its construction progress, affirming the overseas work of Sinosteel International. He pointed out that international development is the essential path for China Baowu to become stronger, better, and larger, and to build a world-class enterprise. Sinosteel International has maintained strategic focus, resolutely "going global," and has made positive contributions to the international development of China Baowu.

Hu Wangming requested that Sinosteel International further strengthen synergy with the core steel business, empower each other, and venture overseas together. Project construction must ensure safety, quality, schedule, and investment, and operational accounting must be done well; adhere to the principle of seeking profit through righteousness, building the project into a clean and honest project; strengthen ESG construction, and establish a good image for China Baowu and Chinese enterprises. Hu Wangming expressed his gratitude and appreciation to the stationed cadres and employees, urging everyone to strengthen labor protection and ensure physical and mental health and safety.

On the same day, Hu Wangming held discussions with Tian Haikui, Chairman of Xinfeng Group, on further deepening cooperation between the two parties.