ABB boosts Chinese energy, rail projects

By Pan Xiaoyi | May 12, 2010, Wednesday |

Online Edition

ENGINEERING group ABB plans to actively tap China's renewable energy area and high-speed railway construction to bolster its growth in its biggest market worldwide.

"Amid the fallout of the economic meltdown, renewable energy and high-speed railway will be new growing point to drive the growth in China as the government is spending heavily in these areas," said Brice Koch, head of marketing and customer Solutions.

ABB China chalked up 4.3 billion euros (US$5.46 billion) in revenue in 2009, up 4 percent from a year ago as it came out of the most drastic economic crisis in 30 years.

Meanwhile, new orders for wind power jumped 125 percent year on year while railway business surged 380 percent on a yearly base. Orders for automation and power equipment for hydropower stations increased 70 percent.

Energy

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ABB boosts Chinese energy, rail projects

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