The “Belt and Road Initiative” Entrepreneur Conference

 

——Jiangsu Hengyuan International Engineering Co., Ltd. Signed an EPC Contract on TS Project with Mongolian ETS Company

On April 25, at the signing ceremony of the “The Belt and Road Initiative”  Entrepreneur Conference, Chairman Xu Huilong of Jiangsu Hengyuan International Engineering Co., Ltd. as the representative of EPC general contractor and CEO Mr. Tsogt Galsan of Mongolian ERDENES TSAGAAN SUVARGA, LLC (a wholly-owned subsidiary of MAK Co., Ltd.) signed an EPC general contract on the annual 14.6 million tons of copper and molybdenum in Tsagaan Suvarga. The project is jointly contracted by CERIECO(CMEC subsidiary) and Jiangsu Hengyuan International Engineering Co., Ltd. as the EPC general contractor. They are responsible for completing all construction work of the copper and molybdenum project. The contract period will be 26 months after the financing is closed to meet the project commissioning and trial production conditions. This project has attracted much attention in Mongolia, it will become the third largest non-ferrous metal mine in Mongolia after finish.

“The Belt and Road Initiative” Entrepreneur Conference is an important part of the second “The Belt and Road Initiative” International Cooperation Summit Forum， held for the first time and aims to provide a communication platform for the joint construction of “The Belt and Road Initiative” countries and regional business communities. Gao Yunlong, vice-chairman of the Chinese People's Political Consultative Conference (CPPCC), Xiao Yaqing, director of the State-owned Assets Supervision and Administration Commission of the State Council, and Gao Yan, chairman of the Council for the Promotion of Trade delivered speeches respectively, Senior officials of Chinese and foreign governments, representatives of relevant international organizations and institutions, representatives of business associations, and leaders of well-known Chinese and foreign enterprises and representative business leaders attended the Entrepreneur Conference.

Mongolia actively responds to and participates in the great development plan of the “The Belt and Road Initiative” proposed by China, taking the 70th anniversary of the establishment of diplomatic relations between China and Mongolia as an opportunity, Mongolia has opened up a broad development space for cooperation between Chinese and Mongolian enterprises in the fields of production capacity, large projects and finance. ETS took this opportunity to submit a financing application to the China Export Credit Insurance Corporation and the Bank of China for this copper-molybdenum project. At present, various financing efforts are being actively promoted.