business

Sinomach expected to sign 5 bln USD in deals at CIIE

SHANGHAI, Nov. 6 (Xinhua) — China National Machinery Industry Corporation Ltd. (Sinomach), a state-owned machinery conglomerate, said it expects to sign deals worth more than 5 billion U.S. dollars during the ongoing 3rd China International Import Expo (CIIE).

The deals cover the fields of machinery and equipment, raw materials and other commodities, as well as a number of engineering cooperation projects.

Deals struck between China Machinery Engineering Corporation, a subsidiary of Sinomach, and the General Electric Company (GE) focus on wind-power cooperation for big onshore wind turbines, promoting the entry of the American multinational conglomerate’s products into the Chinese market.

The company will also sign agreements on project cooperation with three Belt and Road countries, including an electrolytic aluminum project in Belarus, which will be funded by Belarus and built by China.

SUMEC Group Corporation, another subordinate company of Sinomach, will sign a framework agreement with Rolls-Royce to strengthen cooperation between the two sides in the field of commercial diesel generator sets.

The third CIIE lasts from Nov. 5 to 10 in Shanghai. 

Related posts

China vows to expand global free trade area network

xxx

China’s PPI down 2.1 pct in October

xxx

China’s alcohol-making industry posts rising profits in first nine months

xxx