Sinochem Holdings Corp Ltd, China's State-owned multinational conglomerate, signed over $13.5 billion of procurement deals with various parties at the ongoing sixth China International Import Expo in Shanghai.
Sinochem Holdings hosted a signing ceremony on Sunday, fostering extensive communication and collaboration with its global partners while sharing the opportunities generated by the Chinese market, the company said in a statement.
During the event, Sinochem Holdings sealed deals with over 30 clients from more than ten countries including Argentina, Ethiopia, France, Saudi Arabia, the United States and Japan. These agreements covered various fields such as crude oil and refined oil, food and agricultural products, chemical products, manufacturing equipment and trade in services, with their total procurement amount exceeding $13.5 billion.
Sinochem Holdings has signed agreements with multinational corporations, including Saudi Aramco, Vitol Group, Abu Dhabi National Oil Company and Dow Chemical Company.
Syngenta Group, Adisseo, Elkem and KraussMaffei – four of Sinochem Holdings'overseas subsidiaries - also showcased their new products, technologies and services in sustainable agriculture, animal nutrition, chemical materials and intelligent equipment during the CIIE. They signed multiple supply agreements with total sales exceeding $1.9 billion during the grand event.
The new technologies, products and services presented by Sinochem Holdings' four overseas companies at the 6th CIIE are expected to promote technological upgrading and green growth of industries in China, and help foreign companies better fit into the Chinese market, said Sinochem Holdings.
For instance, KraussMaffei, a German manufacturer of plastics and rubber machinery, has displayed a range of products and solutions in the field of new energy vehicle manufacturing at its booth.
"Through the CIIE platform, we can further understand the needs of users; continue to conduct technology research and development; and provide high-quality products, services and solutions for the Chinese market," said Li Yong, CEO of KraussMaffei.
