Airbus, Total Sign China Contracts as Part of Xi’s Paris Visit
The deals were signed today at a ceremony at the Elysee presidential Palace in Paris, with the Chinese delegation including several top executives. In all, 21 accords and contracts were signed, according to a document from the French president’s office. The document didn’t include any details on the values of the contracts.
“On a bilateral level we have an excellent relationship, even if - on our side - we have the duty to re-balance trade between our two countries,” President Francois Hollande told his Chinese counterpart.
Peugeot signed an accord today with Wuhan-based Dongfeng Motor Corp., formalizing a deal the two companies reached in February. Under the accord, Dongfeng and the French state will each contribute about half the money for a planned 3 billion-euro capital increase in exchange for 14 percent stakes apiece. Hollande today called the pact “major and symbolic.”
Airbus Helicopter and China’s Avic are extending their partnership to produce EC175 helicopters. The agreement may include 1,000 helicopters over the next 20 years, valued at EU5.8 billion ($8 billion), Les Echos daily reported today.
Toulouse, France-based Airbus and CASCG may sign a contract that may be in excess of 100 aircraft and includes long-haul A330s and A350s and a large number of single-aisle A320neos, Bloomberg reported March 19. During Hollande’s visit to China in April, Beijing announced the purchase of 60 Airbus aircraft.
Areva SA (AREVA), the world’s largest nuclear reactor builder, and CNNC are signing an accord for recycling nuclear fuel to cement an earlier agreement between the two companies.
Suez Environnement is among companies that have said they are signing accords for more Chinese business.
Total SA and CNOOC signed a contract on liquefied natural gas delivery, including developing future infrastructure for imports and distribution, according to the Elysee document.
The visit by Chinese president and his wife Peng Liyuan include a state dinner tonight at the Elysee Presidential Palace and a concert at the Chateau de Versailles.
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