BEIJING, May 29 (Xinhua) -- Power Construction Corporation of China (POWERCHINA) has tracked 1,469 projects in 57 countries along the Belt and Road by the end of May, with a total estimated value of 635.8 billion U.S. dollars, according to the company.
POWERCHINA has established 150 representative offices or branches in 42 countries, implementing 1311 contracts with a total contract value of 490 billion yuan. It has achieved a total operating revenue of approximately 120 billion yuan by May.
According to POWERCHINA, under the framework of China-proposed Belt and Road Initiative, POWERCHINA has conducted in-depth cooperation with many multinational corporations. First, it has established close bank-enterprise partnerships with multinational banks and multilateral financial institutions to expand financing channels and provide owners with high value-added financing solutions. Second, it cooperates with famous designers, equipment suppliers, logistics companies and consulting agencies to strengthen engineering design and service capabilities. Third, it has built good cooperative relationship with local owners, investors and contractors, etc. Fourth, it works extensively with local upstream and downstream companies and competitors.
Taking the Port Qasim coal-fired power station project in Pakistani as an example, as the one of the first batch of projects of the China-Pakistan Economic Corridor construction, it marked the beginning of the Belt and Road construction and opened the prelude to the construction of the China-Pakistan Economic Corridor.
In addition, POWERCHINA has established cooperative relationships with many multinational corporations such as GE, Siemens, and AECOM, and has carried out all-round cooperation in thermal power, hydropower, wind power, electromechanical products and equipment, and technology and services.
(Edited by Yang Qi, kateqiyang@xinhua.org)
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