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COOPERATION AGREEMENTBETWEEN HONGHUA GROUP AND THE LARGEST EUROPEAN LEASING COMPANY AND RUSSIANSTATE-OWNED MILITARY INDUSTRY ENTERPRISES FOR JOINT MANUFACTURING OF 28DRILLING MACHINES, WITH A PLANNED

soruce:manager    click:4505    time:2014-01-02

Theworld’s most advanced land drilling machine manufacturer Honghua Group signed acooperation agreement on March 22 with Russian Foreign Trade Bank Leasing LTD(VTB Leasing Company) and Ural Coach Science and Technology Production GroupCompany (Ural Coach Company). The 3 signing parties shall jointly manufacture28 heavy-duty oil and natural gas extraction drilling machines in Russia in theperiod 2013-2014, with a planned value of $400 million.

Accordingto the agreement, the drilling machines shall be manufactured as a jointventure named Honghua and Independent States Ltd (Honghua-Independent States),jointly financed by the 3 parties, including provision of production equipment,skilled technicians. The 3 parties shall take a series of measures to realizeRussian localized production and marketing.


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