Monday, 14 June 2004 16:00
ALSTOM has signed a Joint Venture Frame Agreement with Beijing BEIZHONG Steam Turbine Generator Co.....
ALSTOM has signed a Joint Venture Frame Agreement with Beijing BEIZHONG Steam Turbine Generator Co., Ltd (BSTG), a subsidiary of Beijing JingCheng Machinery Electric Holding Co., Ltd (JCH), outlining a cooperative approach to develop an effective long-term business relationship, concerning the manufacture of 600 MW class steam turbines and generators.
This planned Joint Venture focuses on the manufacturing of subcritical and supercritical steam turbine generator technology. ALSTOM will hold 60% and JCH/BSTG 40% of this Joint Venture. The full Joint Venture will cover sales, project management, procurement, manufacturing, commissioning and service, and will benefit from the transfer of ALSTOM’s relevant steam turbine technology.
ALSTOM enjoys a strong market leadership position in steam turbine technology, having installed efficient and reliable solutions all over the world. BSTG is a well-established Chinese steam turbine and generator manufacturer, operating in the 300 MW class under an ALSTOM license.
Both parties have a clear strategy in becoming major long-term players and suppliers in the Chinese high-tech steam turbine and generator technology markets.
Patrick Kron, ALSTOM’s Chief Executive Officer, expressed during the signing ceremony in Beijing the importance of this partnership for ALSTOM, reiterating that “The signing of this Framework Agreement marks a key milestone in the establishment of strategic partnership with Chinese companies. The partnership allows us to provide more competent power generation solutions for the booming power market of China. This reinforces our commitment to be a long term, dedicated partner of China in the construction of the country’s power infrastructure. ”
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