BRI to help EPC firms expand global reach

Teaming up with multinational companies in engineering procurement construction (EPC) projects under the Belt and Road Initiative will help Chinese enterprises gain greater understanding and recognition in local markets, said an industry insider.

Sinopec Engineering (Group) Co Ltd, the Sinopec-owned oil-refining and chemical company specializing in EPC contracting business, said working with multinational companies will benefit Chinese firms as they venture into overseas markets.

"From my experience, in the petrochemical industry, the international market usually lacks sufficient understanding of Chinese products, so sometimes they don't accept Chinese equipment," Sun Songquan, vice-general manager of the sourcing department of SEG, said during a panel discussion on Tuesday at a Belt and Road Forum in Urumqi, the Xinjiang Uygur autonomous region.