Ajman signs up China National Electric Engineering Co. for Dh5 billion investments in infrastructure
Sinomach Group entity signs deal with emirate for infrastructure funding
Dubai: The Ajman government has signed up with China National Electric Engineering Co. Ltd., a subsidiary of Sinomach Group, that could lead to investments of up to Dh5 billion in the emirate's infrastructure projects. The investments are to start from next year.
The northern emirate has been prioritizing infrastructure expansion where possible, to tie into the growth possibilities that will come with increased transportation connectivity. This is also where Ajman wants to involve private sector investments and expertise where possible.
"Ajman is dedicated to creating an ideal climate for investment, aligned with the emirate’s and the nation’s broader economic visions and strategies," said Sheikh Ammar bin Humaid Al Nuaimi, Crown Prince of Ajman and Chairman of the Ajman Executive Council. "We are focused on expanding infrastructure and modern industries to attract global companies and support their operations in our emirate."
Sinomach is a Chinese state-owned enterprise involved in heavy equipment manufacturing as well as overseas general contracting.
The MoU was signed by Sheikh Abdul Aziz bin Humaid Al Nuaimi, Chairman of Ajman Tourism Development Department, and Yan Weihua, General Manager of CNEEC.