World-renowned companies such as Bosch from Germany and ORIX Corporation from Japan signed four strategic cooperation projects with Shandong Heavy Industry Group (SHIG) at the Shandong Province Key Equipment Manufacturing Project Promotion Conference on Nov 3.

Bosch signed a strategic cooperation agreement on future technological innovation in the new energy industry chain with Shandong Heavy Industry Group. The two sides will expand cooperation in new energy, high thermal efficiency diesel engines, intelligent transportation, and other fields to tackle more key core technologies and solve global challenges, making new contributions to the development of the global industry.

Shandong Heavy Industry also signed strategic cooperation agreements with ORIX Corporation for product export financial support, and with Truong Hai Group from Vietnam for localized manufacturing. The group also signed pacts with BASF (Germany), Corning (USA), and Tenneco (USA) on strategic cooperation in the Weichai Power air purification industrial chain.

The Shandong Province Key Equipment Manufacturing Project Promotion Conference also witnessed 10 major key equipment manufacturing projects in the province commence construction and production.

These 14 projects involve a fixed asset investment of 51.5 billion yuan ($7.07 billion), with an expected annual increase in revenue of 117.6 billion yuan after they reach full production capacity.