CNBM International Corporation and the Ministry of Energy and Coal Industry of Ukraine signed a Memorandum of Cooperation

CNBM International Corporation and the Ministry of Energy and Coal Industry of Ukraine signed a Memorandum of Cooperation

CNBM International Corporation (China state company) and the Ministry of Energy and Coal Industry of Ukraine signed a Memorandum of cooperation which provides for encouragement of the Chinese’ investments in the energy sector of Ukraine.

"CNBM in collaboration with the Ministry and other relevant authorities to get acquainted with the energy system of Ukraine with the purpose of expanding the scope of investment in the modernization of power generation and electricity transmission equipment, based on a stable policy aimed at development of the industry, investment protection, and reasonable profitearning", - the document says.

The Memorandum was signed by Igor Nasalik, Minister of Energy and Coal Industry of Ukraine, and Jinsong Zhang, chairman of CNBM International Corporation.

The document noted the positive contribution of CNBM in the implementation of projects in the field of energy in Ukraine.

As of today, the Chinese government CNBM Group Corporation is one of the largest investors in the solar energy sector of Ukraine, owns the largest solar power plants in Odessa and Nikolaev areas.

The Memorandum noted that efforts will be made to find new areas for realization of Ukrainian-Chinese cooperation in the energy sector, coal industry, energy infrastructure and others.

CNBM International Corporation and the Ministry of Energy and Coal Industry of Ukraine have agreed to hold regular consultations in order to exchange information and experience in the field of prospective legislation in the energy sector of both countries, round tables, participation of CNBM in the field-specific events under the auspices of the Ministry.

The Memorandum’s special attention is addressedto the need to implement unchanged policies for the protection of investments and improvement of investment attractiveness of Ukraine in the energy sector.

"Signing of this Memorandum - is a new step which will lead our country to a new level of cooperation. Implementation of joint projects in the framework of the Memorandum will contribute to the development of business cooperation between Ukraine and the People's Republic of China on the principles of equality and mutual benefit ", - said JinsongZhang, chairman of CNBM International Corporation. CNBM has the necessary expertise and resources to take the most active part in the modernization of Ukraine's energy sector. An important condition for success is the firm position of the state to protect the rights of investors and creation of transparent rules for the game - added Jinsong Zhang.

For reference:

CNBM International Corporation is part of the China National Building Materials Group Corporation (CNBM), which was established in 1984 and is under the direct supervision of the  State-owned Assets Supervision and Administration Commission of the State Council. CNBM is one of China's largest state-owned corporations with an annual revenue of more than 31.71 billion. USD. The company is in the top 500 largest companies in the world ranking Fortune Global.

The Group is №1 in the world in the production of cement, drywall and fiberglass. The business group also includes commerce in coal, steel, forest products, construction equipment, machinery, mineral products, and others.

CNBM is one of the world leaders in production of equipment for renewable energy. CNBM capacity for the solar panels production exceeds 1,000 MW per year. The Group also ranks first in Asia and third in the world in production of wind blades.

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