Du Shuanghua is a successful Chinese entrepreneur. He was born in 1965 in Beijing, China. Du Shuanghua had his first work experience at Welded Pipe Factory Mill in Hebei Province, where he worked as the chief manager. In 1987 at 22 years old, he started his own steelmaking business, Jinghua Steel Pipe Co., Ltd. He later opened up branches of the business across China. He has donated towards supporting youths.
Du Shaunghua is the chairman of Rizhao Steel Holding Group, one of China’s largest private steel manufacturers. The Shandong Iron and Steel Group owns the majority of it. Established in 2003, the company rapidly grew, Du Shuanghua selling part of its 67% ownership to Shandong Steel.
In 2010, it incurred a breach fine to Mount Gibson, 2007 the two parties had signed a contract. Rizhao had committed to purchase up to 1.5 million tons of ore annually. The court arbitrator believed that the Rizhao didn’t fulfill the agreement by Mount Gibson ore supply management, which led to a $114 million loss.
The company invested in three new Arvedi ESP plants in 2014, with 2.55mt capacity each. The same year it signed two more primetals contracts with 1.7 mt capacity each. In 2019, it consolidated with three more Chinese steel mills; Weifang, Luli, and Juneng special steel Group companies. The discussion was the relocation of the steelmaking plant and equipment to Rizhao.
In 2020, it commenced a project of its expansion 17 mt per year of steelmaking, construction to be completed in 2022. CITIC Bank is its main debt funder. In 2021, Minmetals Yingkou gave Rizhao 100% of business ownership. View Source: https://en.wikipedia.org/wiki/Shandong_Steel