China’s expansive spending on infrastructure projects has encouraged domestic machinery producer Sany Heavy Industry to look for other countries experiencing a similar urbanization process, and try to increase its revenue from overseas activities to 50%.
“In the next two years, Sany plans to build plants in overseas markets of great potential, such as Indonesia, Russia, North African countries and South Africa,” said Zhou Fugui, vice-president of Sany Heavy Industry and chairman of Shanghai Sany Science and Technology.
Like China, these emerging economies will invest a lot of capital in infrastructure construction, according to Zhou.
According to Zhou, Sany will build plants and research and development centers in these areas to design and develop the most popular products in those regions.
“Sany is China’s largest machinery manufacturing listed company, and has an estimated total market capitalization of over 132.6 billion yuan (US$18.94 billion. Our goal is to be an international company, and to achieve that, the company's international share should account for no less than 50% of total sales,” said Zhou. Currently, that figure is only about 10%.”