BEIJING, Apr. 1 -- AVIC Heavy Machinery Co Ltd, formerly known as Guizhou Liyuan Hydraulic Co Ltd, has signed four wind power contracts worth nearly RMB 5 billion in total in Liaoning Province, Northeast China.
One of the contracts was inked with the municipal government of Tieling on the development of a 100,000-kW wind power project, which is expected to involve an investment of RMB 1 billion.
The company also signed an RMB-3 billion contract with Fuxin municipal government on the construction of six 50,000-kW wind farms in the city.
The other two contracts were signed with the Administrative Committee of Fuxin Development Zone and the Administrative Committee of the Liaoning Provincial Special-purpose Vehicle Production Base, on the production of wind turbines and wind power generation equipment, respectively.
AVIC Heavy Machinery has posted RMB 261-million net profit for last year, a year-on-year increaser of 19.5%, and its operating revenue surged 19.25% from a year earlier, reaching RMB 2.86 billion.