Feb 25, 2018 Last Updated 10:02 AM, Feb 23, 2018

New Entry From the Editor :

Australia slips to second place in mining investment attractiveness ratings

Australia slips to second plac…

AusBN - Australia has fallen to second place in the Fraser Institute’...

Wesfarmers reports 87% H1 profit plunge on business write-downs

Wesfarmers reports 87% H1 prof…

AusBN - Wesfarmers (ASX:WES) has reported an 86.6% nose-dive in its H1 net ...

Australian female labour force participation reaches record high

Australian female labour force…

AusBN - Australia’s female labour force participation rate reached a ...

Doric Group and Chinese firm launch new construction firm for WA market

hardhat constructionAusBNAusBN - Australian construction giant Doric Group has partnered with China Wu Yi to form Wu Yi Doric, a new entity that will initially compete for tier-one construction projects across Western Australia.

The new company spawned from a meeting between Doric and the Chinese firm at the World Traders Association two years ago, and was officially registered as a 50-50 joint venture between the two in October 2017.

For Wu Yi, an integrated property group covering the global construction, technology and real estate industries, the deal represents a maiden venture into the Australian market.

“We’d been seeking a way to enter the Australian market faster and more effectively,” said Wu Yi’s chairman Qiu Liang Xin.

“In our 30 years, China Wu Yi has collected rich experience in engineering and constructor management and international business and pre-fabrication technology.

“So the cooperation between our two companies is a win-win situation.”

Wu Yi will provide financial capacity, technical support and construction materials to Doric’s endeavours, most notably offering its own prefabrication technologies.

Doric’s current projects include Yagan Square, Subiaco’s Station Street commercial development and the Melbourne Hotel redevelopment.

Wu Yi Doric’s strategy will initially focus on the WA market, before expanding nationally and finally into Southeast Asia.

@AusBNOnline

This Month's Issue

v3i2 cover web

Subscribe

rgn web banner

abn web banner

Recent Tweets