At 10:30 a.m., October 16, 2014, HEI-contracted Zetes III Project held erection commencement ceremony in Turkey, Mr. Ahemet Eren, Chairman of Eren Group (the Owner), Mr. Shang Zhongfu, President Assistant and Chief Project Manager of HE Corporation, Mr. Dong Yinzhu, Vice President of HEI and leaders of involved erection and construction companies attended the erection commencement ceremony. Mr. Eren and Mr. Shang Zhongfu addressed at the ceremony. At 10:52 a.m., the main column of 4th boiler was in place, marking the official commencement of erection work of the Zetes III Project.

Zetes III Project is HEI’s first large-scale thermal power EPC project in Turkey, which is of important mile-stone significance for HEI’s future development in Turkey market. Since the execution of the Contract in January, HEI has conducted a large amount of work in design, procurement and construction preparation so as to ensure a successful commencement of this project. As of the date of erection ceremony, Zetes Project has completed almost 40% of the construction plan; 85% equipments have been purchased and some equipments have been shipped or have been delivered to site.