Shandong Heavy Industry Group, BELAZ agree mining trucks deal
(chinadaily.com.cn )| Updated : 2018-11-15Print Print
The Multinational Companies Choosing Shandong - New Products Release and Import Agreements Signing Ceremony was held by Shandong province at the first China International Import Expo (CIIE) on Nov 6.
Witnessed by Gong Zheng, Shandong governor, and Utiupin Pavel, Belarusian Minister of Industry, a strategic cooperation agreement on jointly developing large mining trucks was signed during the event by Tan Xuguang, chairman of Shandong Heavy Industry Group, and Peter Parhomchik, director of Belarusian BELAZ.
Bring global the Weichai engine for mining trucks
As a major manufacturer of large-scale automobiles in Belarus and the third largest manufacturer of mining trucks in the world, BELAZ sells products, such as mining dump trucks, loading machinery, and heavy transport platforms, to more than 50 countries and regions around the world.
Shandong Heavy Industry Group is one of the most powerful automobile and equipment manufacturing groups in China. Its subsidiary Weichai Power has been dealing with the internal combustion engine (IBE) for more than 70 years, possessing a full product line.
The two companies reached a cooperation agreement in July and BELAZ launched its first large mining truck equipped with Weichai IBE in September.
Weichai has made substantial progress in developing high-end engines for mining trucks and stepped into the global market, injecting a strong "Chinese impetus" into the growth of the global mining truck industry and also breaking the foreign monopoly in the field.
Setting an example for Belt and Road Initiative (BRI) cooperation
Following the Weichai-Kamaz Joint Venture project, the mining truck project is the second one between Shandong Heavy Industry Group and Belarus, which is highly valued by the governments of the two sides.
Gong said that China will keep its door open, and Shandong province will build new cooperation platforms for opening up and continue to support the implementation of the BRI.
Pavel said that as one of the first responders to the BRI, Belarus brought more than 80 enterprises to attend CIIE. Numerous companies in Shandong and Belarus have established cooperative relations. He expects more companies like Weichai to invest and build factories in Belarus and make contribution to the economic development of the two countries.
In recent years, Weichai has been actively seeking development opportunities overseas in the new era. It has completed mergers and acquisitions of foreign companies, such as France's Baudouin, Italy's Ferretti, and Germany's KION, been involved in local manufacturing in India, Thailand and Belarus; helped to improve the industrial strength in Ethiopia and Myanmar through exporting its technology; and accelerated the overall distribution of its products and brand in markets of Southeast Asia, as well as the Middle East and North Africa, CIS and South Asia.
In 2017, Weichai achieved an annual revenue of 220 billion yuan ($32 billion), 40 percent of which came from overseas, making it a pacesetter of the BRI.
The Weichai-Kamaz Joint Venture began to be constructed in April and is expected to be put into operation at the end of this year. It will create more than 100 jobs in Belarus and its products will be sold in Belarus, Russia, Ukraine and other countries.
A strategic cooperation agreement on jointly developing large mining trucks is signed during the event by Tan Xuguang, chairman of Shandong Heavy Industry Group, and Peter Parhomchik, director of Belarusian BELAZ. [Photo/168trucker.com]
The Multinational Companies Choosing Shandong - New Products Release and Import Agreements Signing Ceremony is held by Shandong province at the first China International Import Expo (CIIE) on Nov 6. [Photo/168trucker.com]
The Import Agreements Signing Ceremony is held by Shandong province at the first China International Import Expo (CIIE) on Nov 6. [Photo/168trucker.com]