Back in February 2010 it was announced that China Valves had signed a strategic cooperative framework agreement to establish a joint research and development center for the development of high-end valves that Dongfang Electric currently imports. It is anticipated that in the next 5 to 10 years, the dramatic growth in the number and scale of hydropower and nuclear plants will result in approximately $10B demand for these advanced valves.
“We believe producing our current inlet valves for hydraulic turbines in pumped storage units and large diameter pumped energy storage ball valves domestically will benefit our company as well as our country,” said Wang Ji, Chairman of Dongfang Electric. “As such, we highly value our cooperation with China Valves.”
“We are pleased with our cooperation with Dongfang Electric thus far and look forward to receiving more contracts in the future,” said Jianbao Wang, Chief Executive Officer of China valves Technology. “The firm cooperation with a market leader like Dongfang Electric will provide us with more opportunities to access the rapidly developing hydropower market across the globe.”
