BIZCHINA / Overseas Investment
Alstom increases investment in power
By Wan Zhihong (China Daily)
Updated: 2006-06-13 15:15
Alstom, the world's leading power and transport company, will increase
its presence in China's power industry by expanding its manufacturing
capacity, said Philippe Joubert, president of Alstom Power Generation.
The company has officially opened Alstom Beizhong Power Co Ltd (ABP), a
joint venture with Beijing Heavy Electric Machinery Works (BZD).
The ABP joint venture is located in the Shijingshan District of Beijing.
Investment in manufacturing facilities and equipment alone amounts to
approximately 800 million yuan (US$100 million), according to a company
statement.
"It is the largest French-invested manufacturing project in Beijing, in
which Alstom holds a 60 per cent share and BZD holds the remaining 40 per
cent," said Joubert.
Using Alstom's steam turbine and generator technology, the joint venture
will be integrated into Alstom's worldwide manufacturing network and will
foster the development of the power generation equipment manufacturing
sector in China, said the statement.
"The ABP joint venture represents a key step in extending Alstom's
industrial business in China," said Joubert. "We expect ABP will quickly
become one of our most important global manufacturing centres for steam
turbine and generator equipment, serving both the dynamic Chinese thermal
power market and the world."
The new joint venture has reached agreements with big domestic power
companies such as China Guodian Corporation and China Power Investment
Corporation to provide equipment.
"Apart from stepping up development in the thermal power sector, we will
also pay more attention to other fields such as the hydropower business
and nuclear power business," said Joubert.
The company provided power generation equipment to the Three Gorges
Project, the world's largest hydropower project.
It delivered, on schedule, the first 700 MW runner for the Three Gorges
Right Bank Power Station to China Three Gorges Project Corporation
(CTGPC).
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