Two subsidiaries of POWERCHINA-Northwest Engineering Corporation and Sinohydro Corporation completed the purchase of an 80-percent stake in Geodata, a world famous Italian design consultancy, on July 14.
It was another milestone of POWERCHINA's business expansion in Europe following the purchase of TLT-Turbo, a German company in 2014.
In recent years, POWERCHINA has been eyeing the European market. It finished the purchase of a 70-percent stake of a water conservancy design institute in Kazakhstan in November 2011.
The purchase of TLT-Turbo in 2014 made POWERCHINA become the world's largest tunnel air blower supplier. After that it started undertaking the design, manufacturing and installation of a tunnel in Gotthard, Switzerland - the largest ventilation system in the world.
The purchase of TLT-Turbo was thought of as a milestone for POWERCHINA in its world expansion but it's not the corporation's last step in expanding in the global market.
POWERCHINA started the progress of purchasing Geodata in April 2016 and set up a special team to make a thorough investigation and research on the issues relating to commerce, technology, law, finance and taxation.
The purchase is expected to improve POWERCHINA's industrial chain in the fields of transportation infrastructure consultation and design, as well as help explore markets in developed countries in Europe and Americas.
Founded in 1984, Geodata is a highly internationalized company engaged in the design of underground works. Its business covers design, consultation, supervision, research, and assessment for projects involving subways, railways, highways, water conservancy engineering in Europe, Asia and the Americas.
As an industrial leader in underground engineering and technology, as well as railway traffic engineering design consulting in the industry, Geodata has designed the subways in Italy, Brazil, Turkey and Peru, and has participated in the construction of 4,000-km of underground facilities in 45 countries.
In the just released ENR List of Top 225 international engineering design firms, POWERCHINA and Geodata rank 17th and 134th respectively.
According to the newly released list of 2017 Global Top 150 Engineering Design Companies, POWERCHINA ranks in second place worldwide and in first place in Asia.
As the world's largest power engineering contractor, POWERCHINA has strengthened cooperation with international organizations and enterprises. Meanwhile, the corporation is devoted to providing energy solutions for integrated global industrial chain to customers from various countries.
