On April 1, Shantui inked a contract with Southeast Asia QI, a Philippines-based engineering firm, for 100 units of Concrete Machinery, worth a total of $4.7 million. Shantui was selected by China National Aero-Technology Company to supply Southeast Asia QI after a rigorous selection process and extensive negotiations. There has been an increase in infrastructure development in recent years, with heavy investment by the Philippine government, creating a competitive Concrete Machinery market. With hundreds of construction projects and new cities being built every year, Shantui's Singapore subsidiary is vigorously working to seize valuable opportunities in this vibrant market. The recent contract with Southeast Asia QI is an indicator of a bright future for Shantui in the region.
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