Weichai Power and MAZ Set up Joint Venture in Belarus
www.chinatrucks.com: On the afternoon of September 29th, Tan Xuguang, board chairman of Weichai Power and Vovk, Minister of Industry of Belarus signed ‘Memorandum of Weichai Power and MAZ Group Jointly Manufacturing Engines in Belarus’ in the Great Hall of the People under the witness of Chinese President Xi Jinping and Belarus President Lukashenka.
According to the memorandum, the two sides will set up a joint venture company in the Belarus and China Industrial Park to product diesel engines, the total investment is 50 million dollars which is expected to reach 20000 units of production capacity every year.
Weichai Power is one of the strongest comprehensive strength automobile and equipment manufacturing group in China at present, and MAZ is the largest equipment manufacturing enterprise in Belarus. The cooperation between Weichai Power and MAZ Group is an important embodiment that Weichai put "localization" development strategy into practice, create a competitive business model, improve the core competitive ability and actively participate in international competition.
In the future, Weichai Power and MAZ Group will develop in close cooperation, promote the formal operation of the joint venture in the local. They will expand the localization of engine production and assembly, and form a more competitive business model to create a truly strong manufacturing base,in Silk Road Economic Belt.
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