CNBM and Sinohydro Corp. link up to weather financial turmoil

CNBM and Sinohydro Corp. link up to weather financial turmoil http://www.cementchina.net [2008-12-16]  

Sinohydro Corp. announced on Monday that it signed a strategic partnership agreement with the China National Building Material Group Corp., the nation's largest building materials firm, to work together amid the financial crisis.

The two leading state-owned enterprises (SOEs) will cooperate in the areas of project contracting, investment, real estate development and management.

The move was taken in response to a call by the nation's SOE regulator, the State-owned Assets Supervision and Administration Commission, for SOEs to cooperate to weather the financial crisis, said Beijing-based water projects company Sinohydro.

The company said "this effort can enhance both sides' competitiveness and help secure our leading market roles."

(From Xinhua,ed. by Song Wenbo) Related Articles CNBM and Sinohydro Corp. link up to weather financial turmoil