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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