Two subsidiary companies of China National Machinery Industry Corporation Ltd (Sinomach) signed agreements with Indonesia and Kazakhstan companies on April 25 at the Conference for Entrepreneurs of the Second Belt and Road Forum for International Cooperation.
China Machinery Engineering Corporation and PT. ANTAM NITERRA HALTIM (ANH) signed an agreement valued at $74.38 million on the Indonesian ANH ferronickle blast furnace project.
The agreement is an engineering procurement and construction contract (EPC).
The construction will be section A of the project's first phase, which involves building a smelter that is able to produce 80,000 tons of ferronickle that containing 9.5 percent of nickel through ferronickle blast furnace technology.
The contract will hopefully go into effect this year.
China CAMC Engineering Co., Ltd. signed an agreement with a Kazakhstan local cereal grain company on an comprehensive complex for agricultural product deep processing which is expected to be funded with 217 million euros ($241.96 million).
According to the contract, the Chinese side will build a modern agriculture deep processing plant that equipped with a grain storage system, several grain production lines and supportive facilities in three years.
To date, Sinomach has participated in more than 700 projects in terms of municipal and energy facilities, environmental protection, water supply, house construction, industrial construction, petroleum and chemicals and traffic in 48 countries and regions involved in the Belt and Road Initiative with a total contract amount of nearly $80 billion. Some projects have been completed and some are still ongoing.
The company's contracting capacity has been affirmed by the international market through its superior performances in overseas engineering and construction. The two new cooperative projects will add to that reputation in countries involved in the Belt and Road Initiative (BRI).
Sinomach will continue to support the joint contribution of the BRI through a well-implemented internationalized business strategy and tailored plans to increase cooperation with governments and local enterprises in countries and regions participated in the initiative.
In addition, it will also proactively learn local development plans to promote industrial integration and increased capacity for cooperation.
(Executive editor: Li Shuling)