Dongfang Electric

Dongfang Electric Corporation
东方电气集团
State-owned
Industry Power plant equipment manufacturing
Founded 1984
Headquarters Chengdu, Sichuan, China
Area served
 Worldwide
Key people
 Wang Ji (王计) (Chairman)
Subsidiaries Dongfang Electric Corporation Limited
Website Dongfang Electric Corporation
Dongfang Electric Corporation Limited

Dongfang Electric Corporation (Chinese: 东方电气集团) is a Chinese publicly traded corporation engaged in the manufacturing of power generators and the contracts of power station projects. According to Platts, in 2009-10 the company was the second largest manufacturer of steam turbines by worldwide market share, tying with Harbin Electric and slightly behind Shanghai Electric.[1]

History

It was founded in 1984 and is based in Chengdu, Sichuan.[2][3] Its subsidiary is Dongfang Electric Corporation Limited (Chinese: 东方电气股份有限公司) (SEHK: 1072,SSE: 600875). Its H shares and A shares were listed on the Hong Kong and Shanghai.

  • 1958: Dongfang Electric Machinery Plant (Chinese: 东方电机厂) was established.[4]
  • 1984: Dongfang Electric Corporation was established.
  • 1993: China Dongfang Electric Machinery Plant was restructured to form Dongfang Electric Machinery Company Limited (Chinese: 东方电机股份有限公司).[5]
  • 1994: Dongfang Electric Machinery Company was listed on the Hong Kong Stock Exchange.
  • 1995: Dongfang Electric Machinery Company was listed on the Shanghai Stock Exchange.[6]
  • 2007: China Dongfang Electric Corporation was listed entirely in Dongfang Electric Machinery Company. Dongfang Electric Machinery Company was renamed to Dongfang Electric Corporation Limited (Chinese: 东方电气股份有限公司).[7]

Controversy

Dongfang was accused by General Electric in court papers of benefitting from a rigged tendering process awarded by South African utility giant Eskom to install a new boiler at the Duvha Power Station. General Electric claims that Dongfang got the contract event thought its bid was R1 billion (US$76 million) more than the General Electric bid.[8][9]

See also

References

  1. ↑ "Capital Goods: China Losing Its Shine". Societe General.
  2. ↑ Dongfang Electric Corporation
  3. ↑ Dongfang Electric Corporation
  4. ↑ DONG FANG ELECTRICAL MACHINERY AND THE SWITCH SIGN WINDPOWER GENERATOR CO- OPERATION AGREEMENT
  5. ↑ Dongfang Electric Corporation Limited
  6. ↑ Dongfang Electrical Machinery Co Ltd
  7. ↑ Dongfang Electric maker goes for total listing
  8. ↑ STEPHAN HOFSTATTER AND CAROL PATON (26 April 2017). "GE claims Eskom favoured Chinese firm's bid, with backing of Trillian". Business Day. Retrieved 2017-04-26.
  9. ↑ STEPHAN HOFSTATTER (26 June 2017). "Chinese firm Dongfang pockets R600m from 'rigged' Eskom deal". Business Day. Retrieved 2017-06-26.
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