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Ghana President meets with Fuxingxiaocheng President and GM
Time:2012-04-23  Author:    Source:

On April 18,2012, Presidential Palace, Accra, Ghana. President Mills of the Republic of Ghana met with Chairman Chen Yi of Fu Xing Xiao Cheng (FXXC), General Manager Wu Guangwen and David Zeng, a partner at J.W. Junwei Financial.
During the meeting, President Mills praised FXXC’s exemplary performance and promotion in Ghana’s electrical infrastructure development. Bearing more than 30% power loss via power grid transmission, Ghana’s power transmission system, as well as Ghana’s government has suffered for too long. Moreover, the massive power loss not only wastes energy but also intensifies the power grid fluctuation. Outdated power grids has significantly restricted Ghana’s economic development, but a lack of relevant technology and experience has limited Ghana‘s ability to resolve the power loss problem on its own. President Mills expressed his gratitude to FXXC for bringing in technology and equipment for Ghana’s power system optimization. The president also hopes FXXC will continue to commit to hard work and complete the project successfully. Mr. Mills hopes FXXC will participate more in Ghana’s power and energy construction and to help speed up Ghana’s development.

Left to Right: David Zeng, Partner at J.W. Junwei Financial GroupChairmanCheng Yi of FXXC; President Mills of the Republic of Ghana; Mr. Wu Guangwen, FXXC’s General Manager of Ghana operations; Mr. Anna, Consultant to the President.
President Mills expressed his interest on the project progress and asked many questions. Mr.Cheng and Mr. Wu mentioned that FXXC has completed the required registrations and has readied all the equipment. Also, FXXC plans to expatriate a team of experienced technological staff to Ghana to participate in the project. Mr. President praised FXXC’s engagement and attitude and indicated that Ghana government looks forward to seeing the project completion, and would provide full support.
Since September 2011, FXXC has been working on a trial project in Ghana’s capital of Accra, which covered regional power loss reduction via transmission and the power grid optimizing of 2000 households. The recently wrapped up trial project reduces power loss from 32% to less than 10%.  FXXC won a large loss reduction contract from Electricity Company of Ghan (“ECG”), covering 450,000 households. This project requires FXXC to initially invest in the loss reduction project and reap the long term returns. The construction will take one and half year to complete, with FXXC invests the capital, and provides the equipment and the technology support while ECG cooperates with local support. After completion, FXXC will take a share of the gains from the loss reduction for 10 years.
FXXC and ECG are cooperating on a win-win business model.  FXXC has the high-tech power equipment, outstanding technical team and strong capital capacity and is one of the few companies in the world that could take part in projects of this scale. This business model brings FXXC significant profit to benefit the company’s shareholders. ECG, without much initial capital input, will take the advantage of shared profit while gaining technology and experience and building an efficient power transmission network. 
All parties took photos together after the joyful meeting.

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