XCMG and Uzbekistan Temir Yo’llari sign agreement of joint venture

The Chinese delegation included Mr. Wang Min, Chairman of the Board of XCMG, Mr. Li Zong, President Assistant & General Manager of Excavator Business Unit, Mr. Gao Yunjian, General Manager of Department of Investment and Development of the Group, and others.

During the visit the delegation held a discussion on the establishment of excavator joint venture with state joint stock railway company Uzbekistan Temir Yollari.

On 7 September, witnessed by Mr. Rustam Azimov, the First Deputy Prime Minister and Minister of Finance of Uzbekistan, Wang Min and Mr. Achilbay Ramatov, Chairman of the Board of Uzbekistan Temir Yollari, signed documents on establishing of the joint venture.

Mr. Azimov said that XCMG was a world famous engineering and machinery business, owning the most comprehensive product lines and advanced & reliable product technology and quality assurance. The cooperation of the Uzbekistan Temir Yollari and XCMG has the high attention of the President of Uzbekistan and full support of the government, and the joint venture will enjoy a series of preferential policies to ensure its healthy development.

Chairman Wang said that it was an important step to establish joint venture in Uzbekistan as the globalization strategic layout for XCMG and choosing XCMG was the best decision made by Uzbekistan Temir Yollari after a long term of full research and analysis. He believed that with the strong support of Uzbek government, XCMG will build the joint venture to be the comprehensive factory serving the whole Central Asia and benefiting the locals, and will definitely make positive contributions to the mechanical industry improvement and economic construction of Uzbekistan.