LONDON, Nov. 24, 2021 (GLOBE NEWSWIRE) -- Mr. George Matharu, President of Elite Capital & Co. Limited, announced today that Elite Capital & Co. has signed a Cooperation Agreement with the China National Heavy Machinery Corporation.
"Today, the Chairman of Elite Capital & Co. Limited, Dr. Faisal Khazaal, signed a Cooperation Agreement with one of the most important and leading Chinese companies, China National Heavy Machinery Corporation, after negotiations he led since October 2021 which culminated in this exceptional event," Mr. George Matharu said.
China National Heavy Machinery Corporation (CHMC) was founded in 1980, subordinate to SINOMACH Heavy Equipment Group Co., Ltd (SINOMACH-HE) which is affiliated with China National Machinery Industry Corporation (Sinomach), a world top-500 and a state-own corporation directly administrated by Chinese Central Government. CHMC provide quality and professional services in the areas of EPC, projecting, investment and trade. Its scope of business covers the sectors of metallurgical engineering, mining, transportation, building materials, electricity power, water-related services, environmental protection, chemical industry, bioenergy, agricultural products storage and processing, etc.
"I believe that this cooperation will yield many important and vital projects that we will hear about during the year 2022, and we are certainly excited to work hard between the two parties in all sectors with many governments around the world in the near future," Mr. George Matharu said.
Elite Capital & Co. Limited has designed and launched the first one-of-a-kind financial system under the name 'Government Future Financing 2030 Program' back on the 15th of January 2020 to provide financial support rather than lending to Governments.
Under this program, Elite Capital & Co. and its governmental portfolios sign agreements with the respective Government to support the country's National Projects, by providing 80% of the financing needs of those National Projects without burdening the Ministry of Finance with sovereign loans. In return, the Government announces the projects on a bidding basis by inviting all local companies and international consortia, to bid for the 20% remain funding, construction, and project operations, thereby ensuring fairness, equality, and transparency according to the rules, regulations, and laws applicable in the respective country.
Elite Capital & Co. registers 'Government Future Financing 2030 Program' as an official UK Finance Trademark. On the 15th of October 2021, the UK Intellectual Property Office approved and issued a Registration Certificate for the Trademark 'Government Future Financing 2030 Program' with Certificate No. UK00003650455.
Mr. George Matharu concluded his statement by saying, "We are excited about these opportunities and cementing our business relationship through the 'Government Future Financing 2030 Program', and look forward to new major upcoming projects."
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/8488628b-7517-43aa-8b86-714095c7ebaa
