China has begun to invest in the development of its engine liner industry with the aim of developing its own high-performance engines, according to the head of China’s state-owned CITIC engine engineering.
Citing “high-performance and reliable” technologies, CITICA President Li Qing told a news conference on Monday that the country will invest $3bn in its engine manufacturing and engine engineering industry to improve the quality of the products produced, according the state-run Xinhua news agency.CITICA, which has a manufacturing capacity of over 1.3 million tonnes of engines a year, is one of the world’s biggest engines companies.
China, which relies on the export of engines to power the world economy, has been heavily criticised for its poor engine safety record, particularly in recent years, with at least four deaths reported from accidents in the past two years.
Citica is also under fire for being an industry-linked subsidiary of the state oil giant Sinopec, which is the biggest engine producer in the world.
Citicica’s main factory in southern China is located in the city of Wuhan, a key transport hub for the Chinese economy.
The engine company has a significant presence in the country’s energy sector, with a number of engine suppliers including China’s biggest nuclear power company CGN, as well as a number other companies including Siemens, China General Nuclear Power, and Hitachi.
Last year, the company said it would buy the US-based nuclear power firm Three Mile Island from the US Nuclear Regulatory Commission.