BEML seeks entry to China market, displays machines at expo
BEML machines on display at the 13th China Mining Congress & Expo in Tianjin, China
Beijing: Making its maiden bid to enter the Chinese market, India's heavy equipment manufacturer BEML on Sunday displayed some of its huge machines at a Chinese expo here, attracting considerable attention among foreign buyers and dealers.
The 13th China Mining Congress & Expo, a two-day event, has attracted about 4,800 participants from over 50 countries and regions.
The exposition of the Bharat Earth Movers Limited (BEML) was also visited by Chinese Vice Minister of Land and Resources, Wang Min, who evinced interest, saying the equipment stood good chance in Chinese market.
BEML's huge machines including dumpers, excavators and motor graders constituted a "dominant display" at the Indian Ambassador to China, S Jaishankar said.
The capacity of the BEML's five machines displayed at the expo was not available in Chinese market, which presented good prospects for its entry in the market here, Jaishankar said.
Later Wang and S Vijay Kumar, Secretary of Mines, who is heading the Indian delegation at the Mining Congress discussed cooperation between the two countries for institutional interaction between India and China in mining technology and equipment production.
Later, the Indian delegation held talks with the top officials of the Tianjin unit of the ruling Communist Party of China (CPC).
BEML's huge equipment has drawn considerable attention among the Chinese and international dealers and buyers, Nag Naidu, Counsellor at the trade wing of the Indian Embassy in Beijing, who took part in the meeting said.
He quoted Wang as saying that he was amazed by India's participation.
China is a major market in mining and the Chinese Congress provides a large platform, Naidu said.
The participation not only drew the attention of local dealers and buyers but also mine officials from over 50 countries who were taking part in the Congress, he said.
Addressing the event, Wang said in spite of the uncertainty of the world's economy recovery, the mining industry is now showing good development potential.
It is expected that in 2011 the global investment on mining exploration for the non-fuel solid minerals will reach USD 13 to 14 billion which shows global mining is back to its healthy ways, he said.
Global petroleum demand is now growing at a rate of one per cent per year, and some institutions predict that the demand in 2011 will exceed previous years, Wang said.
Developed countries are also looking for strategic layout on new resources, which extends the research on mineral raw material for the new technology, Xinhua quoted Wang as saying.
In the first half of 2011, 1,379 mergers and acquisitions took place in the global mining industry, with the trading volume at a record-high of USD 71 billion, an 80-percent increase compared with the figure in the same period in 2010, Wang said.
These mergers and acquisitions are still dominated by Canada, Australia and European countries and concentrated on coal, iron, copper, gold and potassium.
In the first three quarters, China has seen the investment of the mining industry reach about USD 410 billion, which is a 27.9-percent increase year-on-year, said statistics released by the land and resources ministry.
China's mining industry has seen smooth progress on mineral exploration, steady growth on mine production and improvement on the mine environment, Wang said.
Moreover, the price on mineral products has been gradually stabilised with active imports and exports.
"China will deepen the pragmatic cooperation in global mining industry and oppose the trade protectionism. China will also facilitate to establish a fair and rational system for international mining products trade and investment," Wang said.