Swiss firm sees strong re­turns in hook­ing up with lo­cal com­pa­nies

China Daily (Hong Kong) - - BUSINESS - By REN XIAOJIN in Hangzhou renx­i­ao­jin@chi­

Swiss en­gi­neer­ing group com­pany ABB Group said it wants to get in­volved in Chi­nese EPC projects — or en­gi­neer­ing, pro­cure­ment and con­struc­tion con­tracts — con­nected with the Belt and Road Ini­tia­tive, to se­cure long-term re­turns.

EPCs are con­tract­ing deals where the project con­trac­tor is re­spon­si­ble for all the ac­tiv­i­ties from de­sign, pro­cure­ment, con­struc­tion, to com­mis­sion­ing and the han­dover of the project to the owner or end-use.

Coun­tries such as Rus­sia, Pak­istan and Turkey — as well as coun­tries in the Mid­dle East and Africa — are push­ing to im­prove their power and in­fra­struc­ture sec­tors, a trend which is at­tract­ing the at­ten­tion of both Chi­nese and in­ter­na­tional com­pa­nies.

The ini­tia­tive has brought new op­por­tu­ni­ties in over­seas projects for Chi­nese EPC com­pa­nies. Chi­nese com­pa­nies in­vested $14.5 bil­lion in in­fra­struc­ture, power and ser­vice projects in coun­tries and re­gions re­lated to the Belt and Road Ini­tia­tive last year, ac­cord­ing to data from the Min­istry of Com­merce.

“Be­cause of our pres­ence in China and also in most of economies where the Belt and Road Ini­tia­tive is tak­ing place, we can help Chi­nese

Newspapers in English

Newspapers from China

© PressReader. All rights reserved.