|By PR Newswire||
|September 18, 2013 03:00 AM EDT||
ISTANBUL, Sept. 18, 2013 /PRNewswire/ -- China Machinery Engineering Corporation (CMEC) was built on its predecessor, China National Machinery & Equipment Import & Export Corporation, as part of an overall reorganization. Founded in 1978, CMEC is a member of the China National Machinery Industry Corporation and was listed on the Hong Kong Stock Exchange on December 12, 2012.
As the first large engineering & trade company in China, CMEC has successfully reshaped its business pattern over 35 years. It has evolved into a large comprehensive international enterprise mainly engaged in project engineering and trade. Taking engineering contracting as its core business and placing huge importance on trade, R&D, and international services, CMEC has an all-round business structure that covers engineering contracting, import & export trade, engineering design, international bidding, exhibitions, logistics, and property management.
As early as 1984, CMEC developed an interest in the Turkish market. Over the past 30 years, CMEC has entered Turkey through simple cooperation projects, and has managed to establish itself as a shining brand in the country. CMEC has come a long way towards success in Turkey and has contributed greatly to the trade relationship between China and Turkey.
Hydropower Project: CMEC's Debut in Turkey
For a long time, the Turkish market has been dominated by products and technologies from the West; people there know little about Chinese products and technologies. Due to this lack of knowledge about Chinese enterprises, Turkish consumers have doubts and concerns about their products and services. CMEC, however, was not deterred by such challenges. It instead pursued its objectives with the utmost confidence.
In 1984, CMEC established a representative office in Turkey. It successfully completed several small hydropower projects for the Water Conservancy Bureau of Turkey. In 1994, CMEC undertook a project for the Turkish State Coal Mining Administration that involved two sets of domestically manufactured comprehensive coal mining equipment worth 18 million U.S. dollars. For the first time in that project, the Turkish side agreed to use the buyer credits of the Chinese side, setting an example for Chinese financial institutions to offer commercial loans to Turkish enterprises. The smooth running of the coal mining systems contributed considerably to CMEC's reputation in Turkey.
Coal-fired Power Plants: Milestones of CMEC Brand
In 2001, making use of its advantageous resources in overseas energy markets, CMEC stepped into Turkey's thermo power market, signing a contract with a local investor for the construction of a 135MW coal-fired power plant. With the first unit of the power plant delivered and in operation, CMEC laid a solid foundation for further developments in Turkey.
It is worth noting that with the EPC contract signed in March 2007 for a 600MW supercritical coal-fired power plant, CMEC achieved China's first overseas 600MW supercritical power plant project. This satisfied the growing demand for efficiency, energy conservation, and environment-friendliness of industrial facilities. As soon as the 600MW power plant started running, it drew wide attention from other Turkish project owners. Moreover, the project won the Luban Award (Overseas Projects), the highest award in China, at the end of 2012, together with the first prize for excellent engineering design in overseas power generation projects 2012. After such achievements, CMEC has been attracting more and more attention and trust from clients in developed countries.
After 30 years of painstaking efforts, CMEC has undertaken a number of thermo power projects as well as some other projects in Turkey. So far, there are 10.5MW and 135MW projects as well as 350MW and 600MW coal-fired supercritical projects, involving a total of 12 units. The capacity of completed power plants amounts to 2,000MW with over 1,000MW more under construction.
Alkaline Mining: Specialized Service Wins Praise
The reserve of natural alkaline is quite limited around the world, yet Turkey boasts abundant high quality reserves. Since the 1970s when Turkish reserves were first detected, Western companies have been carrying out feasibility research, explorations, and pilot mining. However, complicated geological conditions made mining quite difficult, and the reserves were finally deemed to be unsuitable for mining.
In 2001, a Turkish client heard that China has the technology for the mining and processing of natural alkaline, and got in touch with CMEC. After rounds of technical and business negotiations and fierce competition against Western competitors, CMEC won the bid. An EPC contract was signed in 2003 for alkaline mining and processing as well as the supporting captive power plant. The project covered the whole industrial chain from raw material mining to deep processing, adopting a world-leading project model. Also, cutting-edge drilling techniques were used to complete the world's largest natural alkaline mining project. By accomplishing this project, CMEC has demonstrated that China's chemical technology, equipment, and engineering team are at a world-leading level.
The alkaline mining project was highly valued by the project owner, and was followed by a series of comprehensive coal mining projects, sodium carbonate and sodium bicarbonate manufacturing facilities, complete cement equipment and workshop projects. These helped CMEC to build on their position in the Turkish market.
Future Outlook: Striving for Win-win Cooperation with Investment
After 30 years, CMEC has gradually won recognition from clients for its design, manufacturing, and construction capacities through its high project completion rate and smooth operations. So far, CMEC has completed projects worth over 2 billion U.S. dollars and is involved in ongoing projects worth 1 billion.
CMEC has established its representative office and set up a project company in Ankara. It also intends to set up a project office in Istanbul, and deploy an operation and maintenance company with a rapid spare part supply system so as to provide better support for our projects in Turkey and deliver more efficient services to our clients.
In the future CMEC will step up its investment in Turkey and provide more comprehensive, convenient, and better targeted services to all Turkish clients. For example, we plan to make use of CMEC's strong financing capacity to form alliances with banks and insurance companies so as to provide more competitive financial solutions as well as optimized technical solutions and project implementation plans with lower emission and higher competitiveness. Also, we will select some suitable projects to make our own investments and hold stocks so as to open up a broader horizon for CMEC in Turkey.
In order for CMEC to make further forays into the Turkish market, the "CMEC, your partner for success" branding campaign will be launched on September 17, 2013 in Istanbul and the CMEC delegation at the event will be led by President Zhang Chun and involve experts in strategic business operations, investment and finance, engineering technology, and project management.
We will invite representatives of Turkish businessmen, CMEC clients in Turkey and neighboring countries, and officials of the Chinese embassy and consuls in Turkey to the event.
At the event, we will give a full review of CMEC's history, an outlook into the future, and an interpretation of CMEC's strategy in Turkey. Targeted at the Turkish market, there will be special sessions introducing the investment and finance business and the international contracting business of CMEC and the power generation and coal chemical technology of China. Sessions for discussing business cooperation will also be arranged. Moreover, CMEC will invite guest speakers from Chinese banks and export credit insurance companies to give introductions regarding the finance and credit insurance operation.
Through its core principle of reifying creativity, CMEC aims at becoming a permanent development partner of Turkey. It pledges to continue its services of high value-added and high returns, endeavors to achieve win-win results together with Turkish partners, and hopes to create a bright future for the relationship between China and Turkey.
For more information, please contact:
Tel: +90 533 3797368