Indra reinforces presence in China with a joint venture agreement in the Asian country
The agreement will be signed this afternoon at La Moncloa, in the presence of the President of Spain José Luis Rodríguez Zapatero and the first Minister of China Wen Jiabao, during his visit to our country
Indra, the premier IT company in Spain and a leading IT multinational in Europe and Latin America, reinforces its position in the Chinese market, where it has been present for 12 years, with an agreement to create a joint venture in the Asian country.
The signing of the contract will take place this evening at La Moncloa in the presence of the President of Spain, José Luis Rodríguez Zapatero, and the first Minister of China, Wen Jiabao. Wen Jiabao's official visit to our country starts today, where he will be welcomed by the King and the President of Spain, in order to promote commercial relationships between Spain and China. During the visit 12 agreements are expected to be signed with Spanish companies.
The Chinese government launched a programme to enhance the air transport infrastructures with significant investments. In order to reinforce its position in China, the IT company signed an agreement with two local partners to create a joint venture to manufacture and commercialise radars for civil aviation which will be oriented to the Chinese market. The company will be based in the technology park of Tianjin which is a focus of economic growth. Indra will hold a 70% stake.
Indra in China
Indra started its commercial activity in China in 1997 and has acquired important references throughout these 12 years, especially in the Transport and Traffic market. Among the most recent projects, we should mention the supply of an air traffic control and surveillance system to reinforce security for Beijing's air space during the Olympic games, in August 2008 and the supply of the largest training center in South Asia for Hainan Airlines and the flight simulators for Air China. In addition to this, the company has also developed the access control system for The Sanghai Metro and light railways that connect Tianjin and Binhai and provided Hong Kong international airport and other 14 domestic airports with control systems and equipment. Indra's subsidiary was established in China in 2002.