Swiss firm sees strong returns in hooking up with local companies
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