On April 9th 2021,Beltway Group (“BWG”) and China First Highway Engineering Company Ltd. (“CFHEC”)in line with the principle of equality and mutual benefit, and to promote long-term cooperation and common development, both sides signed a strategic cooperation agreement at the headquarters of the CFHEC in Beijing.

BELTWAY is a Semi government joint venture based in China dedicated to development and constructions of high quality projects along countries of Belt and Road Initiative, it is engaged in a wide spectrum of business that inter-alia includes infrastructure, development, energy, oil & gas, trade, investment in new economy sector.

CFHEC is a key subsidiary of the China Communications Construction Company (“CCCC”), a Fortune 500 company. CFHEC has more than 90 distinctive subsidiaries, over 22,000 employees providing services to nearly 40 countries and regions in Asia, Africa, Middle East, etc.  CFHEC, with over 8 billion EUR annual turnover, has been recognized as boasting core technologies in super-large bridges, long tunnels and large-diameter shield construction, as it has accumulated rich experience and formed unique advantages. CFHEC has created many “No. 1” in the industry while vigorously building the brands of China Highways, China Bridges, China Tunnels, and CCCC Rail Transit. CFHEC has constructed over 18,000 km highways at various classifications, which makes our completed freeway accounts for 15% of China’s existing freeway.

During the meeting, both sides agreed to deepen cooperation between both parties.Both sides expressed high expectations for the results of this comprehensive long term cooperation.

Both sides would conduct extensive and in-depth cooperation on potential sustainable development projects in countries along the Belt and Road in information sharing, project planning, project tracking, investment, financing and development, project contracting, etc. Both sides would give full play to their respective advantages to promote the substantive progress of project cooperation. Post COVID-19, both sides would accelerate strategic cooperation and actively implement cooperation on high-quality projects in countries along the Belt and Road initiative. This cooperation is of great significance to both sides,which means more opportunities, bigger platform and better resources to effectively enhance their respective business value. In the future, both parties will rely on forward-looking thinking and efficient communication and interaction mechanisms to grow together and work together to meet more challenges.

Beltway Group CEO Mr.Ali M.Khateeb and General Manager of CFHEC International Zhou Yongsheng attend the ceremony and sign the agreement.