Sukanto Tanoto Shares His Experiences Investing in Jiangxi, China
Sateri, a business group of RGE, has signed an agreement to expand its Viscose Staple Fibre (VSF) operations up to 1 million annual metric tonnes in Jiangxi, China. RGE founder and Chairman Sukanto Tanoto witnessed the signing of an agreement between RGE President Tey Wei Lin and County Magistrate of Hukou Jiangxi, Li Xiao Ping.
At the China (Jiangxi)-Singapore Economic & Trade Cooperation Conference held in Singapore the following day on 18 June 2015, Sukanto Tanoto was invited to speak about his experience investing in Jiangxi. The following is an English translation of his Mandarin speech:
Dear Party Secretary of Jiangxi Province, Mr Qiang Wei, Distinguished Guests, Good morning.
I like to extend a warm welcome to you to Singapore. Thank you for witnessing the signing agreement between Sateri China Investment Limited – a company under RGE, and Jiangxi Province Hukou County Government, to invest and expand its viscose staple fibre (VSF) operations in Hukou County.
In 2002, then-provincial party secretary of Jiangxi Meng Jianzhu and governor Huang Zhiquan kindly invited me to establish operations in Jiujiang. This wasn’t the only offer Sateri was given at that time. We were pursued by other cities including Suzhou along with a number of favourable policies and support. Nevertheless, we were very impressed by the warmth and sincerity of the Jiangxi provincial leadership. We eventually decided to locate our business in Jiujiang City of Jiangxi Province.
The Sateri Phase I Project with annual output of 60,000 tonnes of VSF started production in 2003, marking the first wholly foreign-owned manufacturer of VSF in China. It mainly produces high fibre strength and non-woven fibre products for the high-end market, and is one of the few makers of such types of products in China.
Sateri Jiangxi has felt the active and deep support and attentive care of Jiangxi Province and Jiujiang City for enterprise development, and has benefited from the good social climate and favourable investment environment of Jiangxi Province over the past one decade of developing process. Sateri advances and expands steadily with the support and help of provincial and city leaders.
Soon after completion, the Sateri Jiujiang Project expanded its annual output to 70,000 tonnes; it went through another extension at the end of 2010, and in the first half of 2011, the two new production lines reached the designed capacity, increasing annual output from 70,000 tonnes to 160,000 tonnes; so far, the total investment of Sateri Jiujiang Project has amounted to RMB 2.7 billion with annual output of 200,000 tonnes of high quality and environmentally-friendly products.
I am grateful to the various leaders in Jiangxi Province for their support and trust in Sateri.
Today, Sateri has a new development opportunity of historical significance: Sateri China Investment Limited is going to set up a wholly foreign-owned company in Jiujiang City, Jiangxi Province with total investment of RMB 11 billion in VSF projects, and anticipated annual output of up to 1 million tonnes of VSF. And by then, Sateri will be the industry leader in the VSF industry in China.
Jiujiang City has announced its goal of attaining economic output amounting to RMB 1 trillion in five years’ time, and the textile and garment industry is one of the “four pillars” industries. The textile and garment industry in Jiujiang accounts for more than 30% of that of the province, with 314 enterprises involved in spinning, weaving, printing and dyeing, and garment-making and generating business revenue of RMB 95.5 billion last year.
Sateri will coordinate closely with the government to further promote the development of relevant upstream and downstream industries by adopting state-of-the-art technology and equipment and producing high-quality and high-end textile raw materials. This will help build Jiujiang City to be one of the important national production bases of VSF and make Jiangxi Province a major province in the textile industry of China, thereby contributing to the industrial development of Jiangxi Province.
Distinguished guests, the new generation of Chinese leadership headed by General Secretary Xi Jinping has drawn a grand roadmap for China’s development. The “One Belt, One Road” initiative connects the world and the Asian Infrastructure Investment Bank ushers in new development opportunities.
RGE always firmly believes in the development of China and will unswervingly continue to invest in Jiangxi and participate in the development of Jiangxi. Being committed to the business concepts of “good for community, good for country and good for company,” and the operation principles of high quality and efficiency, energy conservation and emission reduction, and environmental harmony, and under the guidance and support of the leaderships of Jiangxi Province and Jiujiang City, we will promote common development, make greater progress and achieve bigger success.
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- Deputy Head, Corporate Communications
- RGE Pte Ltd
- (1) +65 6216 9368
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