Shanghai Electric (the "Company") (SEHK: 02727, SSE: 601727), the world's 
leading manufacturer and supplier of electric power generation equipment, 
industrial equipment and integration services, has recently been accredited 
with a AAA credit rating for international projects. Published in the China 
International Contractors Association's (CHINCA) 2020 Enterprise Credit 
Assessment for Chinese International Contractors and Labor Service Companies' 
report, AAA is the highest given credit rating and marks Shanghai Electric as 
being a reliable partner for international projects. 

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Credit ratings granted by CHINCA are the authoritative measure of 
creditworthiness in China and are formally recognized by the Chinese Ministry 
of Commerce. The department closely examines an organization's comprehensive 
quality, competitiveness, financial status, credit history, overseas market 
development, and actual project implementation procedures. The results of this 
evaluation are an important testament to the organizational quality of Shanghai 
Electric and the Group's ability to operate overseas and undertake foreign 
projects. 

Despite COVID-19, the Company has been striving to achieve its annual goals for 
2020. Regarding outstanding overseas projects, the Company focused on ensuring 
proper OHS standards, implementing rigorous anti-epidemic control measures 
across the board. Despite international travel restrictions and limited access 
to construction sites, Shanghai Electric ensures resources and materials arrive 
at construction sites through careful organization and thorough strategic 
planning, guaranteeing completion of critical parts of projects without 
excessive time delay or costs. 

One of Shanghai Electric's largest international projects, the Thar Coal 
Block-1 2x660MW Power Plant Project in Pakistan, has been moving ahead with the 
successful installation of the steel structure for the second boiler on 
November 12. For the nearby Thar Coal Mine, excavation at a daily rate of 
330,000 square meters has moved a total volume of 28.75 million square meters 
of earth, accounting for 70 percent of the planned total. The joint 
Pakistani-Chinese project is soon to enter the final stages, with the 
construction of the heating surface and excavation of the remaining 30 percent 
of earth to begin soon. 

PR Manager of the project, Qian Xiaolei said, "In order to ensure that the unit 
was lifted on time, the project planning department had to overcome many 
challenges. From preliminary planning and coordination to the deployment of 
on-site construction resources, we ensured a safe and smooth on-site hoisting 
procedure."

The Company is also involved in the United Arab Emirates' renewable energy 
transition with the 950MW CSP/PV Hybrid Power Generation Project. The solar 
power station, comprised of 700MW CSP and 250MW PV, is the fourth phase of the 
Mohammad Bin Rashid Al Maktoum Solar Park, a project developed by the Dubai 
Water and Power Authority (DEWA) as part of Dubai's "clean energy strategy". On 
November 14, the construction progress of the 950MW CSP/PV Hybrid Power 
Generation Project in Dubai hit a new milestone with the successful fitting of 
a 1,600-ton all-steel roof truss. 

In a recent visit to the site of the power plant, HH Sheikh Mohammed bin Rashid 
Al Maktoum, Vice President, Prime Minister and Ruler of Dubai said the solar 
park will contribute to the clean energy development of the UAE.

In recent years, the Company is planning to further accelerate its pace to 
support the development of the solar power industry. In July, the Group signed 
an agreement on the fifth phase of 900MW Engineering, Construction and 
Procurement (EPC) contractor in Dubai. As the official partner of the Dubai 
World Expo in 2021, Shanghai Electric has been strengthening ties in the Middle 
East, looking to show the world its commitment to new energy and international 
cooperation.

Source: Shanghai Electric

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