CCOEC is bracing itself for an ambitious strategic upgrading program over the next three years which, upon successful implementation, would see the company’s rapid business expansion and booming revenues based on transformed operational modalities and upgraded core lines of business. This was sketched out by Ma Zhiwu, President of CCOEC, when addressing the firm’s annual working conference held in early February, 2008.

According to the “CCOEC Corporate Transformation and Upgrading Strategy” approved by Genertec, the company will step up its efforts to streamline its traditional business sectors and shift operation focus onto a combined role of projects contracting and management on the international engineering arena. “In three years time from now,“ said the President, “CCOEC will eventually become a specialized engineering contractor and professional projects manager with international competence and competitiveness.”

For decades, CCOEC ‘s mainstay business, among other trading activities, has been supplying goods and materials to numerous development projects mostly in underdeveloped countries funded under China’s foreign-aid (Official Development Assistance) programs. With more than 40 years’ experience in the trade, the time-honored parastatal has gained rich skills and expertise at its command in engineering projects contracting and management that have laid foundations for the scheduled business turnaround and upgrading, to adapt to business trends and environment changes. Recently, the company has successfully struck a deal with MinskEnergo of Belarus on a rehabilitation and upgrading project for a thermal power plant in Minsk. As main contractor, CCOEC is the sole equipment and expertise provider in the multimillion-dollar project --- manifesting a nascent yet dramatic changeover in its role as material supplier to a well-established international engineering works contractor and project manager.

Summarized as “Two R’s” (project CONTRACTOR and MANAGER) by President Ma, the notion of the strategy is to make a fast track development of its two flagship lines of business in a drive to sharpen its edge in engineering works contracting and project management in the international market. “It’s an overriding task,” stressed the chief executive, referring to the transformation and upgrading exercise. “But we are confident we’ll realize our business expansion in a leapfrog manner by mobilizing all the resources available for that purpose,’ he concluded.

The three-year development initiatives are themselves the subsidiary-level offshoots of the Genertec’s broader development strategy, which was announced late last year and already put in place for vigorous implementation by the Group and all of its subsidiary companies.    (President’s Office)