China Baowu’s international development has achieved "breakthrough". On September 7, Baosteel Co., Ltd. and Aramco, the world’s largest oil production company, signed a memorandum of understanding in the form of “cloud signing”, and negotiated plans to build a world-class full-process heavy plate plant in Saudi Arabia. Carry out the feasibility study of the project and reach an agreement on the work content that the two parties will jointly carry out in the future.

China Baowu regards "persisting in international development and achieving world-class" as one of the main goals to be achieved during the "14th Five-Year Plan" period. 2021 is also the first year of the internationalization of China Baowu. China Baowu Party Secretary and Chairman Chen Derong has repeatedly emphasized that internationalization is no longer a leading issue for China Baowu, but a matter of life and death. Our internationalized operation index is not only far lower than some state-owned enterprises, but also lower than many outstanding private steel enterprises. There is a big gap with international mainstream steel enterprises, which seriously affects the pace of China Baowu's global leadership and creation of world-class. The Belt and Road Initiative provides us with a broad space for "going out". China Baowu must actively undertake the national mission and responsibilities, seize the opportunity to "go out", promote the creation of a world-class enterprise with internationalization, improve the ability of global resource allocation, and build an industry A global industrial system that matches its status.

This signing is a key action for China Baowu and Baosteel to promote the implementation of their internationalization strategy. Speeding up the construction of overseas steel mills and realizing "going out" have always been Baosteel's long-term strategic layout and higher self-requirements to fulfill the role of central enterprises and explore the brand going overseas. Entering the new era of "dual carbon", Baosteel Co., Ltd. has repeatedly proposed to deeply understand the important strategic significance of "going out" under the new situation, and regard the construction of overseas steel plants as an unshirkable historical responsibility and an inevitable choice to expand the space for survival and development.

Keywords: engineering construction information, state-owned enterprise engineering news

This project is an important measure for Baosteel Co., Ltd. to actively participate in the construction of the Belt and Road Initiative and to continuously deepen exchanges and cooperation with countries along the route in the fields of equipment, technology, and management. The project mainly includes the construction of a full-process heavy plate plant and related supporting facilities, which are positioned to produce high-end heavy plate products. Saudi Aramco, the leader of the Saudi partner of the project, is one of the world's largest oil producers and refining companies, as well as an important crude oil supplier in China and a strategic customer of Baosteel. Through the construction and operation of cooperative projects, the two parties will establish capital ties, strengthen mutual communication and trust, and further deepen strategic cooperation. Editor/Xing Wentao