Beijing's preparations for the 2008 Olympic Games have already generated business for foreign firms, and more opportunities are expected when bids for the games are solicited in June.
At the high-profile Euro-China Cooperation Forum that concluded on Saturday in Beijing, Davide Cucino, chairman of the China-Italy Chamber of Commerce, revealed that the Fata Group, a diversified multinational, will cooperate with the Shougang Group to produce painted steel for projects in the Olympic Games preparation programs.
Fata is providing Shougang a US$15 million production line for steel coating, which will be put into operation next year.
And in co-ordination with Taiyuan Iron and Steel Company Ltd, in Shanxi Province, Fata will ensure that a steel polishing line begin operations in a couple of months to provide materials for a wide range of uses.
Fata Hunter, a Fata division, is negotiating with Chinese firms on six similar production lines.
For more opportunities, Fata DTS, a joint venture between Fata and the American Digital Traffic System, will submit bids for projects initiated by the Beijing 2008 Olympic Games Bid Committee in preparation for the games, Cucino said.
For the forum, the Fata DTS affiliated Musi.net SpA has introduced information technology used in traffic management in Italy, Washington DC, Seoul and China's Taiwan Province.
Executives from Fata, which is diversifying its operations and setting a priority on information technology, said their firm will bring the traffic management technology and patent solutions to road network problems and provide expertise for integrated information mobility to projects geared for the Olympic Games.
Cucino said he hoped road traffic in Beijing, a headache for years, will greatly improve, as the city's hosting of the games had sparked multinationals' zeal.
Fata will launch a joint venture training program in May in Beijing.
( April 22, 2002)
