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Dubai: China's biggest manufacturer of construction machinery is forecasting earnings of $250 million from the Middle East this year and will invest $15 million to build a regional logistics centre in Dubai.
Xuzhou Construction Machinery Group (XCMG) is a leading hydraulic truck crane manufacturer which expects to produce 10,000 units this year. Its other products include excavators, bulldozers and asphalt pavers.
"The Middle East is our most well established and fastest-growing overseas market," said Qi Hong, XCMG's regional director.
"We have sold more than $400 million worth of products in the Middle East over the last three years and are hoping for earnings of $250 million in the region in 2007."
Hong said the company will open a logistics centre in Dubai to boost client service and aid regional business growth.
"The company is seeking a 20,000 square metre site in Dubai and hopes it will be in operation within a few months," he said.
The construction machinery giant is taking part in Big5 PMV, an event for plant, machinery, construction vehicles and equipment suppliers, which will take place in Dubai.
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