Electrical engineering company of China
Dongfang Electric Corporation (Chinese: 东方电气集团) is a Chinese state-owned manufacturer of power generators and the contracts of power station projects. According to Platts, in 2009-10 the company was the second largest manufacturer of steam turbines by worldwide market share, tying with Harbin Electric and slightly behind Shanghai Electric.[1]
History
It was founded in 1984 and is based in Chengdu, Sichuan.[2][3] Its subsidiary is Dongfang Electric Corporation Limited (Chinese: 东方电气股份有限公司) (SEHK: 1072,SSE: 600875). Its H shares and A shares were listed on the Hong Kong and Shanghai.
- 1958: Dongfang Electric Machinery Plant (Chinese: 东方电机厂) was established.[4]
- 1984: Dongfang Electric Corporation was established by Ding Yi.[5]
- 1993: China Dongfang Electric Machinery Plant was restructured to form Dongfang Electric Machinery Company Limited (Chinese: 东方电机股份有限公司).[6]
- 1994: Dongfang Electric Machinery Company was listed on the Hong Kong Stock Exchange.
- 1995: Dongfang Electric Machinery Company was listed on the Shanghai Stock Exchange.[7]
- 2007: China Dongfang Electric Corporation was listed entirely in Dongfang Electric Machinery Company. Dongfang Electric Machinery Company was renamed to Dongfang Electric Corporation Limited (Chinese: 东方电气股份有限公司).[8]
Controversy
Dongfang was accused by General Electric in court papers of benefitting from a rigged tendering process awarded by South African utility giant Eskom to install a new boiler at the Duvha Power Station. General Electric claims that Dongfang got the contract even though its bid was R1 billion (US$76 million) more than the General Electric bid.[9][10]
