On 2014 August 21 and 22, during President Xi Jinping’s state visit of China to Mongolia, Chairman Guo Yu of HEI signed the cooperation agreements for the Maryn-Sukhait 195MW coal fired project and Aduunchuluun 300MW coal fired project, marking the first access to the Mongolian power market as well as being one of the significant outcomes of President Xi Jinping’s visit to Mongolia. The two projects will be based on combined cycle technology with Owner’s own coal source around the Owner’s power plant. The projects are estimated to commence in spring, 2015.

After signing, Chairman Guo Yu of HEI held a warm meeting with President B. Nyamtaishir of MAK Corporation. Mr. Nyamtaishir expressed that, HEI was a powerful company with excellent prestige in the market and would well conduct these two projects with no doubt. He also hoped that HEI would provide financial assistance. MAK used to mainly exist as a mining company and has currently decided to establish MAK Power Company concentrating on the power sector at present. With the success of this cooperation with HEI, both parties could jointly develop many projects in the near future.

Chairman Guo Yu appreciated MAK Corporation for their trust on HEI, saying that HEI was willing to build these two projects as bench-marking projects in power sector cooperation between two countries. HEI was willing to provide financial assistance for both projects due to HEI’s consistently sound cooperation with Chinese Credit Insurance Companies as well as banks with excellent prestige. Meanwhile, HEI stood ready to keep in parallel with MAK to forge ahead, even taking future investment cooperation under consideration.

On August 22, taking President Xi Jinping’s visit to Mongolia and the willingness of China and Mongolia to strengthen the trade and economy cooperation as an opportunity, Chairman Guo Yu of HEI also signed memorandums for staff training and long-term cooperation in the power sector with Mongolian Energy Ministry. With unremitting efforts for the Mongolian Power Ministry’s trust, HEI has gained an opportunity to further expand with the Mongolian power market.

Mongolian Energy Ministry signed a long-term strategic agreement for staff training and future power project cooperation, which not only demonstrates their trust of HEI’s strength, but also creates an opportunity to push the Mongolian power sector development ahead. In accordance with the current development of the Mongolian economy, Mongolia is faced with urgent power demands. Following the principles of globalization, brand-forging, and benefit-creating, HEI will well conduct the two projects so as to create the benchmark for the Chinese EPC projects within the power sector, and contribute to the economic cooperation between China and Mongolia.