OREANDA-NEWS. August 04, 2014. Strategic Cooperation Purchase Agreementbetween TISCO and Natural Gas Group of Petro-China was signed in Beijing,a major move followingStrategic Cooperation Framework Agreementsigned in 2007,and it marks a new high point of cooperation between TISCO, global largest stainless steel production enterprise and Petro-China, global top-class comprehensive energy resources corporation after previous close and successful collaboration with both inseparable contact, and there will be a new era of win-win development.
      
Mr. Zhang Zhi-fang, director of TISCO Group Board and president of Stainless Steel Co., Ltd.; Mr. Chai Zhi-yong, director of TISCO Group Board and deputy president of Stainless Steel Co., Ltd.;Mr. Yu Bao-cai, deputy president of Petro-China and Mr. Li Zun-yi, general manager of Material Purchase Management Department of Petro-China attended the signature ceremony.
      
At the multifunctional meeting hall of Petro-China, both sides had cordial and fruitful conversation. Mr. Zhang Zhi-fang conveyed the chairman of TISCO Group, Mr. Li Xiao-bo’s best wishes to Mr. Liao Yong-yuan, president of Petro-China and Mr. Yu Bao-cai, deputy president of Petro-China and appreciated the support and help of Petro-China to TISCO for a long time.
      
Zhang Zhi-fang said that as global well-known comprehensive energy resource corporation and global largest stainless steel producer, we both trust each other during previous cooperation and it seems that we were one family. Under the greater promotion of Petro-China, TISCO exerted the superiority of its own technical research and development, steel used for LNG storage tank and thick gauge and high-end X-80 pipe line steel were first successfully developed by TISCO in China, filling the domestic gap. Greater achievements for both sides have been gained in terms of stainless steel sheet, stainless steel pipe line and clad plate etc. TISCO’s products were widely used for west–to--east natural gas transmission project, China-Asia, China-Myanmar and China—Guizhou and Shandong pipeline network etc. various state key and huge projects. In collaboration, both sides played an important role in pushing forward localization of strategic material manufacturing through mutual efforts. The creation experience of reformation and development and enterprise management obtained by Petro-China deserves learning and drawing lesson by TISCO.
      
Mr. Zhang Zhi-fang said that today after signing?Purchase Agreement of Strategic Cooperation?, the cooperation content for both sides will be more concrete and operational, covering more fields. We both think we are users and first party each other,and we make sure that cooperation will be more fruitful and prospect more bright. Mr. Yu Bao-cai introduced the development of Petro-China and confirmed the previous cooperation outcome of both sides. He said that Petro-China and TISCO have fine and solid cooperation foundation and TISCO is valuable and strategic cooperation partner of Petro-China,both cooperation is pushing forward for large scale and higher level. We convince based upon this solid foundation that we will learn from each other and draw lessons, deepening further our cooperation.
      
In the wake of signing of Purchase Agreement of Strategic Cooperation?, both promised further to speed up the cooperation of goods and service purpose depending upon the principle of“reciprocity and win-win, resources sharing, equality, credibility and integrity and jointly development”, the cooperation of goods and service purchase will be broadened, establishing more extensive cooperation relationship, with cooperation model of formation of multiple direction and level, fully bringing into play own superiority and supplying the support to the counterpart development prior to third party, and stable supply—demand market of resources is ensured to achieve reciprocity and win-win.