History of the Rizhao Steel Holding Company under the Leadership of Du Shuanghua

Du Shuanghua was the chairman of Rizhao Steel Holding Company, one of China’s largest private steel manufacturers. He was also a philanthropist who made donations in support of youth interests. However, most of the company was owned by the Shandong Iron and Steel Group. It’s 5 km west of Rizhao Steel National Road, 5 km west of Rizhao City, 35 km north of Tongjiang-Sanya Expressway and Rizhao Port in Lanshan District.

The construction of the Rizhao steel began on the seashore and took 181 days. Since its inception, the annual production capacity of 15 million tons of steel and production of HRC, D-bar, wire rod, and beam has increased. Rizhao Steel and Mount Gibson signed a 15-year agreement in 2007 stating that Rizhao had to purchase 1.5 million tonnes of iron annually from Mount Gibson. In 2010, the Arbitration Court ruled that Rizhao had failed to meet its obligations under the 2007 Iron Supply Agreement with Mount Gibson, resulting in a loss of $ 114 million. Du Shuanghua did not like the idea; he aimed to boost this company after the loss.

In the 2009 plan, Rizhao Steel merged with Shandong Iron & Steel, followed by restructuring. It was 67% owned by the Shandong Steel Group and 33% by Du Shuanghua. In 2019, it became the 26th largest steel producer globally after producing ~ 14 million tons of molten steel, making it a huge success and helping them add more customers. In the first phase of the transition, Du Shuanghua was responsible for running Rizhao steel. Shandong Steel is a Chinese steel company in Xinan. It was declared the 12th largest steelmaker in 2015 after producing 21.7 million tons of steel. Learn more here: https://www.bloomberg.com/profile/person/16236527

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