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China’s Tidfore Group Invests USD 50 Mn in Pohang

According to Yonhap News,

(POHANG=Yonhap News) Tidfore Heavy Equipment Group, China’s largest heavy equipment producer, will invest USD 50 million in the Yeongil Bay Industrial Complex in 2015.

According to Pohang on December 18, a group of ten staff members at Tidfore Group visited Pohang and agreed to construct a heavy equipment production plant on 140,000 ㎡ of land in the foreign investment zone of the Yeongil Bay Industrial Complex in 2015.

"The group announced their investment intention after participating in the investment briefing and touring the industrial complex. We will spare no effort in providing administrative support when Tidfore Group invests in our city," said Pohang City Mayor Lee Gang-deok.

Tidfore Group’s investment in Pohang will create 300 new jobs and promote the Yeongil Bay Industrial Complex.

Tidfore Group, headquartered in Changsha, of China’s Hunan Province, has 1,500 employees and KRW 220 billion in capital. The total value of overseas orders recorded KRW 4.2 trillion in 2014. Tidfore Group has been in a cooperative relationship with Korea’s POSCO since 2007.

Copyrights Yonhap News. All Rights Reserved.

Source Text

Source: Yonhap News (December. 18, 2014)

** This article was translated from the Korean.
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