Gamesa Eólica has now fully entered the Chinese market with the construction of a wind turbine factory and the signing of contracts for the installation of a total of 302MW of wind-generated power. These latest activities represent the company's largest wind power equipment sales commitment in Asia to date. Specifically, Gamesa Eólica has signed five new contracts with subsidiaries of the China Long Yuan Electric Power Group Corporation, which in turn belongs to the China Guodian Corporation group. These contracts call for the supply of 355 Gamesa Model G58-850 kW wind turbines to various Chinese wind farms. This equipment will be manufactured and assembled at the plant Gamesa is currently building in Tianjin province in China, with a planned budget of over 60 million euros over the next three years. The contracts, valued at over 160 million euros, include the supply of wind turbines without a tower, along with the supervision of their installation and start-up. Assembly work is expected to begin in 2006. Gamesa is currently constructing a wind turbine manufacturing plant in the city of Tianjin. The new plant will have a total surface area of 100,000 m2. The plant will produce Gamesa Models G52-850 kW and G58-850 kW wind turbines. The plant will include areas for warehousing as well as for wind turbine maintenance and service. Other special sections will be used for storing 26 m. and 29 m. blades for the mentioned models. Work on the plant is expected to finish in July of 2006, at which time the first wind turbines destined for the wind farms included in the contracts will begin to roll out of the production line. The agreement was signed with Tianjin Hitech, a public corporation that manages high tech industrial development in the Tianjin area. The plant as well as adjacent facilities will be fully owned by Gamesa.
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