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Qiyuan Group

Established in 1994 in Zhangjiagang city of Jiangsu, Qiyuan Group has seven domestic subsidiaries and one overseas office. It also built the Eastern Industry Park in Ethiopia.

In line with China’s policy of “going global”, Qiyuan Group established LQY WELDED TUBE Inc. in Huston of USA, which serves as its overseas production base for welded steel pipe. The annual production will reach 50 thousand tons, covering various steel and compo pipes.

At the same time, Qiyuan Group built the Eastern Industry Park in Ethiopia, which was managed by Zhangjiagang Economic and Technological Development Zone and was approved by the Chinese Ministry of Commerce in November 2007. The Eastern Industry Park is located at Oromia of Ethiopia and will mainly cover metallurgy, construction materials and electro-mechanics. It will also take the market demands of Ethiopia into account and eventually develop an export-oriented zone featured with manufacturing processing, export and import trade, resource exploration, bonded storage, logistics, transportation and commodity showcasing and sales. Up to the end of December 2012, Eastern Industry Park has made a total investment of USD 63.22 million. The investment on infrastructure was USD 47.15 million. The export volume reached USD 61.98 million. These 11 enterprises in the park have realised sales revenue of USD 90.98 million in total and the Ethiopia government received a tax of USD 8.46 million from them. The number of employees in the park amounted to 2409. It created 1960 employment vacancies for Ethiopia. At present, there are 20 Chinese companies working on investment and construction sourcing in the park. And 11 companies held by the Chinese have registered in the park, with a contractural investment volume of USD 144.51 million. Nine of them have started their operation and made a total investment of USD 95.5 million.


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