November 30th, HBIS launched it is HBIS Duferco Silk Road Energy Steel(BRESCO) Project in the No.8th International Capital Conference (ICC) in Beijing. ICC Co-Chairman, Former Chinese Vice Minister of Commerce, Former Secretary General,Boao Forum for Asia,Mr.Long Yongtu and ICC Co-Chairman, Former Prime Minister of France,Honorary Member of Parliament Chairman, Fondation Prospective et Innovation, Mr.Jean Pierre Raffarin, Hebei Provincial SASAC CCP Deputy Chairman Cao Haiyan attended the ceremony and delivered their speeches. HBIS CCP Chairman and group Chairman presented the Project outlook and development strategies.
BRESCO is about to take the opportunities in the globe brought by the One & One Road Initiative and HBIS should play a leading role in manufacturing and HBIS Duferco International Holding (DITH) strengthen its efficient globalized business network and professional skills. Together with their first class financial and business capabilities, the company will coordinate its development with the Belt & Road Initiative projects and invest in series of basic material and infrastructure projects. HBIS Duferco will become a diversified energy and material trader and producer from an originally sales service provider. HBIS Duferco will be the Silk Road Flagship along the Belt & Road Route and make solid preparation for the future “HBIS For The World”.HBIS Duferco will own a network of global trade, M&A, Finance, Manufacturing and Services, which will be serve the Chinese enterprises to go overseas.
The former Director of Ministry of Commerce European Division Sun Yongfu hosted the conference. The Belt & Road Initiative Construction Leading Office, 21st Centenary Sea Silk Road Coordinate Group Director, NDRC West Development Director, Silk Road Fund Board Director, Strategic Planning Board Chairman Ou Xiaoli, HBIS DITH Chairman Bruno Bolfo, CDB Chief Economist and President of Research Institute Liu Yong, former APG Chairman and CEO Dick Sluimers, Barclay Mineral & Metal Division Managing Director Frank XU, Former CEO of ArcelorMittal Americas, Louis Schorsch, AIIB International Consultant Steve Howard, Former FORTUM COO and Deputy CEO Matti Ruotsala, Former Ambassador de France Asia Serge Degallaix, China-US Clean Energy Forum CEO Dennis Bracy witnessed the launching ceremony.
Mr.Long Yongtu delivered an ardent speech and pointed out that the HBIS Duferco BRESCO Project in the framework of Belt & Road Initiative is not merely commerce cooperation, but also a mutually beneficial showpiece project in international cooperation. We need more model projects to strengthen the confidence in the Great Initiative of Belt & Road. The practices have shown that the Chinese SOEs are fully capable of implementing oversea projects. This the basic element of any successful cooperation. The Initiative of Chinese government is also a tremendous commercial initiative. With the confidence and support, the project will eventually make a success and provide services to the Belt & Road International Platform.
Mr.Jean Pierre Raffarin said in his speech that the Belt & Road Initiative was raised by China, but many countries their people in the world could join in. This is an important and strategic project, providing us not only opportunities, but also brings us significant influences in next decade. The project will be classic and a showpiece project to future projects to present the greatness and success of the Belt & Road Initiative.
Mr.Ou Xiaoli said BRESCO project was a Belt & Road Project and would benefit China and rest of the world. HBIS has been a leading player in going overseas. The M&A of Smederevo steel mill is a classical move in the Belt & Road Initiative. Now, the national is implementing the Jing-Jin-Ji Coordinated Development Strategy and the industrial structure in this area also needs to reform accordingly. HBIS needs to speedup its internationalization efforts and go overseas well. He believes the BRESCO Project will enhance the development of Belt & Road projects and provide successful case to other Chinese enterprises.
Cao Haiyan said that Hebei Provincial SASAC fully supported the HBIS BRESCO Project. HBIS is the largest enterprise in Hebei Province and is the pioneer making a breakthrough in implementation of Belt & Road Initiative. It is also leading the international development of HB SASAC Enterprises. Both HBIS and Duferco are rich in experience in Belt & Road Projects. At this moment, BRESCO strategy is drawing the blueprint for the next decade. Perfect timing. We hope that HBIS could grasp the historical opportunity of Belt & Road Initiative and make a great leap forward by making BRESCO a world leading project.
Yu Yong thanked that the great support of ICC and the state ministries, finance institutions and friends could attend the launching ceremony of the project. He said, launching the BRESCO project in ICC summit is the best possible moment and occasion for the project. HBIS and Duferco BRESCO will benefit from the great opportunity of Belt & Road Initiative and develop ourselves. It is a also an opportunity that they are taking their social and national responsibilities. HBIS is a the biggest beneficiary of Belt & Road and will be biggest supporter to the Belt & Road Framework. HBIS is steadfast. BRESCO will be the most powerful platform and column of the initiative, making the best report to Chairman Xi.
Bruno Bolfo said the Belt & Road had brought us opportunities and BRESCO would be perfect platform for the cooperation between China and Europe. To some funds, our platform could help them to successfully implement their projects. We have already made solid preparations for lunching this project. We have our own unique advantages and we will show our capabilities to our partners.
HBIS Duferco CEO Matthew de Morgen presented the BRESCO Project and its ten year target. High ranking executives from AM, Barclay, CDB, AIIB and Fortum shared their comments over potential partners, project opportunities and sustainable development. They all agreed that the Belt & Road Initiative was bringing new development potential to China and European countries. BRESCO follows the trend of the initiative and globalized economic development, it also gets the supports from inter-governmental dialog and matured, very experienced and well performed multinational enterprises. BRESCO will the next flashing point in future China & European cooperation.
According to the plan, BRESCO will own two headquarters in Beijing and Switzerland and organize a consultant team joined in by international and domestic politicians, business community and industrial leaders. The executive team will be internationalized and experienced. The BRESCO project board will have both foreign and Chinese nationals to help the company to make their strategies, give their advises, obtain the funding and improve their credits. BRESCO will have three phases to implement its first ten year plan. The first phase will take two years to lead its Chinese and international financial partners to find long term and profitable projects in Belt & Road markets on this platform. In the next decade, the revenue of Duferco will increase to 200billion dollars from the present 6 billion dollars and corporate value will go up to 120 billion dollars from today’s 1billion dollars.
ICC is a world leading EU-China Commerce Forum. Guests from UK, France, Italy, Germany, Spain, Poland, Netherlands, Denmark, Sweden, Norway, Finland and EU attended the forum this year.