SINOMEC Signs Contract for Power Transmission Project for Byeloporozhskaya HHP-1 and HHP-2 in Karelia, Russia

On November 16,2016, SINOMEC signed the contract for power transmission project for Byeloporozhskaya HHP-1 and HHP-2 with Russia KCM Group in the Municipal Hall ofthe Republic of Karelia, Russia. The contract was another masterpiece after SINOMEC signed an investment agreement with Russia in October 2016.

The senior officials of the Government of the Russian Federation witnessed the groundbreaking ceremony of the project of Byeloporozhskaya HHP-1 and HHP-2hydropower stations. The commencement of the project has paved the way for SINOMEC to enter the Russian market, and laid a solid foundation for the signing of the contract for power transmission project.

The signing ceremony was witnessed by Mr. Alexander Khudilainen, Head of the Republic of Karelia. After the ceremony, Mr. Alexander Khudilainen met with Mr. Li Yang, separately, and introduced the economic situation and quality resources of the Republic of Karelia, the first of the five key economic development areasidentified by the Government of the Russian Federation. Karelia, close to Finland, is rich in minerals, forestry, water, paper, graphite, natural gas andunique tourism resources. Mr. Alexander Khudilainen expressed his sincere hope that SINOMEC could actively participate in the construction and development of the local green renewable energy by utilizing the advanced technology and management experience in investment and operations. Mr. Li Yang was entrusted by Mr. Liu Bin, Chairman of SINOMEC, to convey gratitude to the Russian side for their trust in SINOMEC, and said that SINOMEC would work closely with the Russian local partners, strictly follow the contract, manage the investment projects, and fully implement the contracted works, and would spare no effort to cooperate with the local governments and enterprises, develop clean and environmentally friendly energy and people’s livelihood projects, and contribute to the development of the local energy construction.