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Wed, Dec 04, 2024 | Jumada al-Aakhirah 3, 1446 | DXB
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Ajman Government signs Dh5 billion investment deal with China’s Sinomach Group
The meeting saw engaging discussions on Sinomach’s strategic initiatives and ongoing projects in the region
Sheikh Ammar bin Humaid Al Nuaimi, Crown Prince of Ajman and Chairman of the Ajman Executive Council, with Zhang Xiaolun, chairman of Sinomach. — Supplied photo
Government of Ajman has signed a Memorandum of Understanding (MoU) with China National Electric Engineering Co. Ltd. (CNEEC), a subsidiary of Sinomach Group to invest upto Dh5 billion in infrastructure projects that will help the emirate’s economy to grow.
The MoU, signed by Sheikh Abdul Aziz bin Humaid Al Nuaimi, Chairman of the Ajman Tourism Development Department, and Yan Weihua, general manager of CNEEC, paves the way for future cooperation on investment projects in infrastructure and manufacturing industries, with an estimated value of Dh5 billion.
Sheikh Ammar bin Humaid Al Nuaimi, Crown Prince of Ajman and Chairman of the Ajman Executive Council, and Zhang Xiaolun, chairman of Sinomach, a Chinese state-owned enterprise (SOE) involved in heavy equipment manufacturing as well as overseas general contracting, witnessed the signing of a memorandum of understanding (MoU) between the Ajman government and China National Electric Engineering Co. Ltd. (CNEEC), a subsidiary of Sinomach whose expertise is overseas general contracting.
Earlier Sheikh Ammar bin Humaid welcomed Zhang Xiaolun, Chairman of Sinomach, at the Emiri Diwan alongside Sheikh Abdul Aziz bin Humaid Al Nuaimi, Chairman of the Ajman Tourism Development Department.
The meeting saw engaging discussions on Sinomach’s strategic initiatives and ongoing projects in the region, underscoring Ajman’s commitment to strengthening ties between governmental bodies and the private sector. Sheikh Ammar emphasised that these partnerships are vital in facilitating the exchange of expertise and the execution of major developmental projects, ultimately boosting economic activity, fostering innovation, and enhancing the overall business climate.
Sheikh Ammar reaffirmed Ajman’s commitment to fostering an attractive business environment for entrepreneurs and investors. "Ajman is dedicated to creating an ideal climate for investment, aligned with the emirate’s and the nation’s broader economic visions and strategies. We are focused on expanding infrastructure and modern industries to attract global companies and support their operations in our emirate," he said.
Zhang Xiaolun expressed his gratitude for the warm reception and praised the ongoing cultural and economic renaissance in the UAE, particularly in Ajman. He highlighted the emirate’s progressive legislation, modern infrastructure, and flexible services that make it an attractive destination for international business. He expressed his genuine wish that the MoU be the commencement of a series of successful cooperations between Ajman and Sinomach.
Additionally, both sides extended their appreciation to UAE-based businessman Shaji Ul Mulk, who played a pivotal role in facilitating the visit and fostering investments in Ajman through his position as the local strategic partner of CNEEC.
“CNEEC is primarily focused on large-scale infrastructure projects in Ajman, including real estate development and the establishment of high-tech industrial parks. Their model involves executing long-term EPC (Engineering, Procurement, and Construction) contracts with an emphasis on sustainable growth,” Mr Shaji Ul Mulk said.
“We anticipate the investment projects to begin in 2025, considering CNEEC’s fast-paced approach and substantial capability to deliver on such large-scale developments efficiently. As the strategic local partner of CNEEC, Mulk International will play a key role in these projects. Being the region’s largest manufacturer of modular buildings, exterior envelopes, and new technology materials, Mulk International is expected to contribute significantly to the EPC contracts, especially in providing innovative construction solutions and materials.”
The meeting was also attended by Sheikh Rashid bin Ammar Al Nuaimi, Vice President of Ajman Cultural and Sports Club; Sheikh Abdullah bin Majid Al Nuaimi, Director-General of Ajman’s Citizens Affairs Office; and Marwan Obaid Al Muhairi, Director-General of the Ajman Ruler's Court. Also in attendance at the event were CNEEC's Deputy General Manager, Ge Jian, along with Bian Ke, Yan Hui, Lu Zhenyu, Bhupesh, Mairaj Hussain, and Adnan Ul Mulk.
A Staff Reporter
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