Hi-Speed Group makes inroads into global strategy

The Shandong Hi-Speed Group is vigorously implementing a strategy of expanding overseas by building construction projects in 106 countries and regions.

A State-owned enterprise group incorporated in 2001, Shandong Hi-Speed is primarily engaged in the investment, construction, operation and management of highways, expressways, bridges, railways, harbors, shipping and logistic facilities. It is also involved in the building materials, IT, financing and real estate sectors connected to its main businesses.

During the past few years, the group has continued to expand its international market. It has completed 378 overseas projects at a total value of $7.8 billion. There are 34 projects under construction at a total value of $2.48 billion. These overseas projects, in traffic infrastructure construction, power engineering and agricultural development, have not only accelerated the company's level of internationalization but have also globally promoted its brand name.

Last year, the company reported operating revenue of 47 billion yuan ($7.2 billion), with total assets worth more than 370 billion yuan. During the past five years, its operating revenue and assets increased by 151 percent and 167 percent respectively, and its overseas business doubled.

The company has won bids for almost 100 projects from foreign governments and enterprises, in areas such as public infrastructure, housing, petroleum, chemicals, power and communications.

In 2012, the group invested 100 million yuan building the most advanced cotton production base in Sudan.

In March last year, the group, with Hong Kong-based Friedman Pacific Asset Management Ltd, acquired a near 50-percent stake in France's Toulouse Blagnac Airport and became the first Chinese enterprises to acquire an overseas airport.

Last year its branch in Singapore reported a turnover of 6 billion yuan, accounting for 12.8 percent of the group's total.

It has completed more than 50 foreign aid and technological cooperation projects, including East Timor's presidential office, the parliamentarian house of Chad, medical training centers in Tanzania, and hospitals and schools in Pakistan.

In 2013, the company completed a 1,000-km-long road reconstruction project in South Sudan at an investment of $2.1 billion, at the time China's largest foreign aid transport infrastructure project.

juchuanjiang@chinadaily.com.cn

(China Daily 03/09/2016 page10)