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Social Responsibility

Supplementary Agreement of Argentina Belgrano Railway Reconstruction Phase I Project Signed

Release time:2017-05-18 Article source: Reading times: A+AA-

Good news came from the Argentine market, with the joint care of the governments of China and Argentina and through CMEC’s efforts. On the afternoon of May 17, as witnessed by Chinese President Xi Jinping and Argentine President Macri, Chairman Sun Bai and Argentine Minister of Transport signed the $1.6 billion Supplementary Agreement of Argentina Belgrano Freight Railway Reconstruction Phase I Project in the Great Hall of the People. The Supplementary Agreement covers new equipment procurement and civil construction of the Phase I project, which demonstrates the recognition of the Argentine government for the Phase I project and its desire and confidence in cooperation with CMEC.

Argentine President Macri attended the Belt and Road Forum for International Cooperation and paid a state visit to China. In an interview, President Macri fully affirmed CMEC’s professionalism and social responsibility as shown in the Belgrano Railway Reconstruction Phase IProject and said that the Argentine government would continue the cooperation with CMEC in the infrastructure connectivity and cooperation between China and Argentine and sign follow-up agreements on therailway cooperation.

During the period of President Macri’s state visit, Chairman Sun was invited to attend the luncheon of President Macri and Chinese entrepreneurs because CMEC is the most valuable cooperator of the Argentine government. He exchanged views with Mr.Macri on the China-Argentina cooperation in the future. Yin Zhixin, General Manager of the 6th Complete Plants Division, was invited to attend the Argentina-China Investment and Trade Forum and the reception for celebrating the Argentine National Day and the 45th anniversary of the establishment of diplomatic relations between China and Argentina. He held discussions with heads of Argentine government agencies and enterprises.

Since it entered the Argentine market in 2008, CMEC overcame challenges in the new market, kept its belief in mind, and seized the major development opportunity for both countries to sign the agreement on the Argentina Belgrano Freight Railway Reconstruction Project in December 2013, the largest project in the railway and transportation of the twonations. The project, the most important one under the cooperative framework of China and Argentina, is cared and supported by the state leaders of the two nations. The renovated railway line has considerablyimproved the competitiveness of the Argentine freight railway and isappraised by the Argentine government and locals.

Now, CMEC has real momentum for growth in Argentina. It negotiates with the Argentine government for the projects of power transmission, ship procurement and affordable housing based on the railway project, which will make greater contributions to the China-Argentina trade and cooperation.