Another Milestone for Chinese Enterprises Going Global: Xinye Special Steel Launches 180,000-Ton Electrolytic Aluminum Project in Ethiopia
Recently, the domestic company Xinye Special Steel announced that its 180,000-ton electrolytic aluminum project, located in Ethiopia's Gada Special Economic Zone, has completed preliminary preparations and officially entered the operational phase. Xu Wenping, Chairman of Xinye Special Steel, disclosed details of the project during a meeting with Zeleke Temesgen, Commissioner of the Ethiopian Investment Commission. The project is designed with an annual electrolytic aluminum production capacity of 180,000 tons; however, the company has not yet publicly released details regarding the total investment, current actual output, specific launch date, or the proportion of products destined for export. According to the company's official website, Daye Xinye Special Steel Co., Ltd. was established in 2000 and is a private special steel enterprise utilizing an integrated "long-process" production model that encompasses iron and steel smelting, steel pipe manufacturing, and the rolling of high-quality large round billets. The company currently employs nearly 2,000 people, covers an area of over 1,600 mu (approximately 107 hectares), and possesses total assets exceeding 5 billion yuan.
