New cooperation for overseas infrastructure projects
The international engineering federation FIDIC has signed a ground-breaking memorandum of understanding with the Chinese contracting company CHINCA. Both companies are dedicated to overseas infrastructure and construction projects. They want to improve collaboration between businesses in these fields.
One of the fields that was specifically mentioned is the Belt and Road initiative. With the rollout of this project, new infrastructure and real estate is required in many countries involved. A lot of contracts have been awarded to Chinese companies over the past few years, to the concern of European critics, who have accused the Chinese of unfair market competition.
The two-year MoU was signed improve achievement of FIDIC’s core values of quality, integrity and sustainability, improve the competence of Chinese contractors in the management and application of FIDIC contracts, to increase exchanges of engineering professionals and to upgrade the skills of individual professionals.
CHINCA chairman Fang Qiuchen commented: “FIDIC contracts are one of the most popular templates used in international infrastructure projects. Chinese contractors are one of the largest application groups for FIDIC contracts and the MoU between FIDIC and CHINCA creates a communication bridge between Chinese contractors and international consultants.
FIDIC president Alain Bentéjac said: “FIDIC is delighted to be working in partnership with CHINCA to promote overseas project contracting. I look forward to both organisations working together in collaboration to benefit, not just companies working in the construction sector, but also infrastructure professionals in China and overseas. Promoting mutual understanding and increasing collaborative working is a key role of FIDIC on the global stage and I am sure that this MoU will lead to better links and mutual cooperation across the entire construction sector in China.”
FIDIC stands for the International Federation of Consulting Engineers, while CHINCA means the China International Contractors Association. The agreement is valid for two years.