On October 14, 2016, witnessed by the leaders of China and Bangladesh, the "Power Grid Network Strengthening Project Under PGCB" jointly undertaken by ETERN officially completed the EPC general contract. Signed, the contract value is equivalent to about 1.14 billion US dollars.
On December 25, the company received the entire advance payment for the project equivalent to approximately US$171 million. At this point, the conditions for the official implementation of the Bangladesh National Power Grid Corporation's power grid upgrading project have been met, and the project has officially entered the implementation stage. The construction period of the project is 4.5 years. After the implementation, it will have a positive impact on the company's operating income and total profit in the next five years. At the same time, the implementation of the contract conforms to the Chinese government's "One Belt, One Road" initiative and the strategic trend of the "China-Bangladesh-Myanmar-India Economic Corridor", which will have a significant impact on the company's expansion of new business models and play an active role in promoting it.
Since "Going Out" in 2007, ETERN has been deeply engaged in overseas for more than ten years, and has established subsidiaries in 12 countries and regions. Ten large and medium-sized EPC power general contracting projects, all successfully delivered projects have been highly recognized by international friendly countries, and the "ETERN" brand has been launched in the owner country. In 2018, ETERN won the honor of "Service-oriented Manufacturing Demonstration Project" awarded by the Ministry of Industry and Information Technology of the People's Republic of China for its outstanding performance in the general contracting project in Bangladesh. Continuously innovating and making breakthroughs, Yongding has made gradual progress, and has upgraded the innovation of "general contracting" to the business models of "general contracting + finance", "general contracting + government double excellence", and "general contracting + operation".
Under the new development pattern with the domestic cycle as the main body and the mutual promotion of the international and domestic dual cycles, ETERN will ensure the high-quality completion of the overseas projects that have been obtained, and will unswervingly promote the implementation and implementation of the company's globalization strategy.