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PM open UMW pipes JV in Hebei Province

Posted on: June 5, 2009


Bernama – Friday, June 5

BEIJING, June 5(Bernama) — Prime Minister Datuk Seri Najib Tun Razak today officiated the opening of a Malaysian – Chinese joint venture, Zhongyou BSS (Qiangdao) Petropipe Co Ltd in Qinhuangdao in Hebei Province, about 350 km from the Chinese capital.

The joint venture is between UMW Holdings Bhd, which holds a 49 per cent stake, and Baoji Petroleum Steel Pipe Co Ltd, a subsidiary of the China National Petroleum Corporation.

Najib, who cut a giant red ribbon and signed on a plaque to officiate the opening ceremony, said he was pleased that an increasing number of Malaysian companies were heeding the government’s call to venture abroad, particularly to China.

He congratulated UMW, one of the more successful government-linked companies, for its strong track record in China.

Also present at the ceremony were the wife of the prime minister, Datin Seri Rosmah Mansor, and International Trade and Industry Minister Datuk Mustapa Mohamed.

UMW group chairman Tan Sri Azmat Kamaludin said the joint venture produces oil and gas transmission pipes for a part of the 9,100 km Second China West-East Gas Pipeline Project from Khazakstan to Shanghai.

He said the 1.3 billion renmimbi joint venture was UMW’s sixth plant in China and its biggest venture in this country.

Production at the plant, whose annual capacity, is 480,000 tonnes started late last year.

Qinhuangdao, which takes its name from China’s first emperor, Shi Huang Ti, is a seaside town located near the start of the Great Wall of China, also known as the Dragon’s Head. — BERNAMA

SHY AS

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