East China heralded as a land of opportunity for UK business

British companies are well placed to win contracts worth billions of pounds in Shanghai and East China, the Minister for Energy and Industry, Brian Wilson, said today.

Mr Wilson, at the end of a four-day visit to China, launched a new brochure prepared by the British Consulate-General in Shanghai, which catalogues current opportunities in the area. The brochure lists over 30 projects with values of at least $100 million each.

One of the major opportunities is presented by BP’s involvement in the biggest-ever joint venture in China to build a petrochemicals complex at Caojing, on the outskirts of Shanghai.

Mr Wilson said that he had discussions with BP during his visit and had asked them to encourage as much British involvement as possible in the supply chain. The Minister also heard details of plans for the biggest deep-water port in the Far East, to be built on islands at the entrance to Shanghai Harbour.

‘This is an absolutely massive project and I am pleased that a group of interested British companies under the leadership of P&O has been formed to compete for the work,’ said Mr Wilson. ‘This was specifically welcomed by the Chinese infrastructure planners.’

Other major projects in the area include the Shanghai International Motor Racing Circuit, one of the projects of the Shanghai and Huaxia Tourism Zone. It will cost around $500 million to develop. World Bank funding is to be provided for a 600 MW wind farm at Chongming.

‘As Shanghai becomes a world-class city, the authorities are very keen to work more extensively with British business,’ said British Consul-General, Paul Sizeland.

Interested parties should contact the British Consulate on www.britishconsulate.sh.cn or by fax at 0086-21-6279-765. The brochure will shortly be available on the internet.