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Chinese steel company illustrates “win-win” model overseas
2011-11-09
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Brief:A Chinese project worth 1 billion U.S. dollars has landed in the American state of Texas.
A Chinese project worth 1 billion U.S. dollars has landed in the American state of Texas and has received a warm welcome from local government.

Financed by the Tianjin Pipe Corp., the jumbo-sized project will produce up to 500,000 metric tons of seamless steel pipe, marking China's largest single manufacturing investment in the United States.

Altogether 600 jobs will be created at the Texas plant with an annual payroll of about 18 million dollars. It is estimated that the plant's 10-year economic impact will be 2.7 billion dollars, according to a study by Impact Data Source of Austin, a Texas-based consulting firm.

The project is "exciting," Danny Nguyen, a Missouri City, Texas, council member told Xinhua.
 

Xinhua
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