Over 330 Pieces of Equipment Complete Structural Upgrade of 2022 FIFA World Cup Stadium Leading Chinese construction machinery manufacturer XCMG (000425.SZ) reports the completion of renovation works to the concrete structure of the 40,000 seat 2022 FIFA World Cup Stadium in Qatar. A total of 330 different types of XCMG equipment are currently on-site to support the ongoing upgrade. The project, launched in 2016, is estimated to finish by the end of 2020. George Annich, General Manager of AHA, which represents XCMG in Qatar, said, "XCMG products could achieve the goals set out by the organisers flawlessly in a reasonable cost without the expensive aftersales fees. The future of manufacturing is in China." Along with 2022 FIFA World Cup Stadium project, XCMG has established substantial operations in markets of the "Belt and Road" countries since 2013. XCMG sells to 63 countries and regions of the initiative with exports accounting for 74 percent of total global trade. XCMG now runs five joint-ventures and assembly plants in Uzbekistan, Malaysia, Poland and Kazakhstan, with 67 primary distributors, 72 overseas spare parts centers, eight subsidiary companies, 13 local offices, more than 300 service stations and 155 spare parts stations all across "Belt and Road" countries. To better serve clients and expand cooperation with "Belt and Road" countries, XCMG is planning to add two marketing companies, four representative offices, ten primary distributors and 16 service and spare parts stations. "XCMG has been actively supporting infrastructure projects such as Qatar 2022 World cup Stadium across the 'Belt and Road' Initiative countries. We are not only seizing development opportunities, but also emphasizing our social responsibility in aiding economic development in 'Belt and Road' countries," noted Jiansen Liu, the Vice President of XCMG. XCMG's first overseas direct regional spare parts center went into operation on January 6, 2018, in Nairobi, Kenya. Its services in East Africa are contributing to the strengthening of partnerships in the region. Nigeria, as the No.1 oil-producing country in Africa, has an average daily petrol consumption of 40 million litres, but more than 80 percent must be imported. The Dangote refinery project in the Lekki Free Zone near Lagos has purchased more than 1,400 XCMG equipment totaling millions of dollars since 2015; the 1,250-ton crawler crane is the heaviest equipment China has ever exported. http://www.xcmg.com SOURCE XCMG