Harbin Electric signs $643m contract

Harbin Electric Corp, China's top power equipment maker by sales, signed a $643 million contract with Malaysia's Genting.

The 660 Megawatt coal-fired power plant in Indonesia is the company's first cooperation with Malaysia. Gong Jingkun, chairman of Harbin Electric Corp, said the company would establish a high-level model station and push forward Sino-Malaysia economic cooperation.

According to Deutsche Bank, the company avoided the battered nuclear equipment market in recent years. Experts expected its overseas projects will reach $161 million and the years' overall orders would reach $6.428 billion.

wuyong@chinadaily.com.cn