A new business partnership is emerging between Arabian Bugshan Group and Chinese Shantui company, according to senior company executives.
Arabian Bugshan Group (ABG) held its first meeting with China’s Shantui for Heavy Equipments in Jeddah recently.
Abdullah Ahmed Bugshan, chairman of ABG, who chaired the meeting, said the new business relationship will be a breakthrough in the heavy equipment industry to cater to the requirement of the Saudi market compatible with the Kingdom’s sustainable development.
Abdullah Bugshan stressed that the enormous development of infrastructure projects in the Kingdom has become the focus of major international players in construction and machinery industries around the world.
“Their contention is that the Kingdom has become the land of opportunity for its ever-booming building and construction sector and related machinery based on its future economic programs,” he added.
Bugshan said the group has a proven track record of achievements and reputation over the past five decades, which makes it capable of reaching new milestones in the future. This step comes in accordance with the group’s plans targeting the areas of investments in various fields commensurate with their aspirations and market mechanisms.
Wang Fei, president of Shantui, said his company is not only one of the major Chinese entities in the field of heavy equipment but one of the largest international companies specialized in this field worldwide.
He expressed his happiness over the collaboration with ABG, a major Saudi player in the field of heavy equipment.
Fei expects more successes and promising developments in the coming years, depending on their extensive experience and potential deals in this area, especially in a large market like Saudi Arabia, which is emerging as the fastest growing construction market in the region.
The meeting also reviewed the size of Saudi construction market, especially the large-scale projects that need infrastructure and road and transportation projects that are being built across the Kingdom. The meeting was attended by Yasser Marie Bugshan, and Faisal Abdullah Buqshan and Ahmed Abdullah Buqshan, both members of the board of directors of ABG, in addition to the group’s Managing Director Yunus Ibrahim and Executive Director Mohammed Taman.
Taman said the business relationship between two firms began in 2012.
The objective of Shantui business delegation’s first tour to the Kingdom is to achieve greater coordination and cooperation in several areas that serve the interests of both parties, which will be reflected positively on the heavy equipment market in the Kingdom.
Taman added that ever since the relations began with Shantui, things are developing and there are many future joint ventures that will help ABG take a big leap in the market.
Cheng Zhaohong, managing director of Shantui spoke about the company’s future plans in the Arab region, particularly in Saudi Arabia.
He outlined the strategic plans in the areas of manufacturing and marketing, especially in heavy equipment.
The two-day meeting also set schedules for future visits both to the Kingdom and China, in order to strengthen mutual business relationship between the two parties.