Chairman of Sinosteel Engineering & Technology Co., Ltd. Pengcheng Lu visited Peru’s new President Pedro Pablo Kuczynski in Shanghai during his state visit in China and exchanged views on further promotion and cooperation in sectors of mining exploitation and infrastructure.

Lu introduced main business and overseas mineral projects of Sinosteel, in particular the targeting and typical references of engineering equipments section, as well as the diversified development thought in mining, metallurgical, energy and petrochemical industries. “As the sole Latin-American country that both established comprehensive strategic partnership relationship and signed bilateral package of free trade agreements with China, Peru has stable economic condition and abundant natural resources. Sinosteel has always been focused on the development of Peruvian market and will actively promote several projects under negotiation including mining exploitation, steel plant expansion, highway and water utility construction by its rich experiences in overseas project contracting.” Lu said.

China is Peru’s largest trade partner and important investment origin. On this trip to China, President Kuczynski is seeking to attract more Chinese companies with successful overseas experience like Sinsoteel to invest in railway and highway projects. He welcomed Sinosteel to participate in steel plant expansion and mining projects in Peru and assured to offer full support. Peru will cut income and profit tax in 2-3 years, with will also create convenience for foreign investors.