In 2020, the COVID-19 is not only a global pandemic and public healthcrisis; it has also severely affected the global economy and financial markets. However, the strong are also brave. We break through the difficulties and come to the success: the JV factory negotiation between CHINT Global and SchneiTec in Cambodia come to the agreement at the end of September.
This cooperation has received encouragement of the Prime Minister of the Kingdom of Cambodia, as well as huge support from the strategic department, legal department and innovation business department of CHINT headquarters. On the morning of October 20, the online signing ceremony on Joint Venture Agreement of Electrical Equipment Manufacturer between CHINT Global and SchneiTec was held.
The leaders of both sides reached a consensus that, in the future, with CHINT's long-term experience in electrical product manufacturing and SchneiTec's strong local business network and expertise, the joint venture factory will become a new growth engine of both parties' business, and help CHINT's localization and rapid development in Cambodia.
SchneiTec was founded in 2015 and has been engaging in many governmental projects on energy development very fruitfully. It is now the first ranking in supplying Solar Home System to EDC and as well a leading solar farm company who builds the first solar farm and the largest solar farm in Cambodia. SchneiTec has taken part into many power transformation and transmission projects, and maintance of power plants and substations in the EDC system. Nowadays, SchneiTec has become a well-known local enterprise in Cambodia with rich project operation experience and local business network.