Yongding shares overseas major projects officially entered the implementation stage

On October 14, 2016, under the joint witness of the leaders of China and Bangladesh, the "Bangladesh State Grid Corporation Power Grid Upgrade Project" (Power Grid Network Strengthening Project Under PGCB) jointly contracted by Yongding officially completed the signing of the EPC general contract, with the contract amount equivalent to US $1.14 billion.

On December 25, the company received the full advance payment of the project converted into a contract of US $0.171 billion. So far, the conditions for the formal implementation of the Bangladesh State Grid Corporation's power grid upgrade project have been met, and the project has officially entered the implementation stage. The construction period of the project is 4.5 years, and the implementation will have a positive impact on the company's operating income and total profit in the next five years. At the same time, the performance of the contract conforms to the strategic trend of the Chinese government's "Belt and Road Initiative" initiative and the "China-Bangladesh-Myanmar-India Economic Corridor", and will have a significant impact on the expansion of the company's new business model and play a positive role in promoting it.

Since "going out" in 2007, Yongding has been deeply involved in overseas for more than ten years, and has established subsidiaries in 12 countries and regions. In Southeast Asia with Bangladesh as the center and East Africa with Ethiopia as the center along the "Belt and Road", it has undertaken dozens of large and medium-sized EPC power general contracting projects. All the successfully delivered projects have been highly recognized by international friends, and the "Yongding" brand has been established in the owner country. In 2018, Yongding won the honor of "service-oriented manufacturing demonstration project" awarded by the Ministry of industry and information technology for its outstanding performance in Bangladesh general contracting project. Continuous innovation and breakthroughs, Yongding step by step, the "project general contracting" innovation upgrade to "general contracting finance", "general contracting government double excellent", "general contracting operation" business model.

Photos of Some Completed Overseas Projects of Yongding

Under the new development pattern of taking the domestic big cycle as the main body and the international and domestic double cycle promoting each other, Yongding will ensure the high-quality completion of the overseas projects it has achieved, and unswervingly promote the landing and implementation of the company's globalization strategy.