StrongBox Wins Contract to Supply Industrial Equipment for USD $43+ Billion Rail Project in Shanghai
The company has been named as the official supplier of a wide range of leased heavy construction equipment and machinery.
About Rail Projects in Shanghai
China recently authorized further development of railway systems and approved a budget of $43.3 Billion (USD) for the projects. These projects include 27 rail, subway and inter-city lines, and are estimated to add 286 kilometers of track. The work is expected to take five years to complete. Shanghai's metro system is one of the longest mass-transit rail systems in the world.
Winning this contract is a key milestone in StrongBox's aggressive growth plan. With this additional revenue, the company is projected to break all of its historical growth records. This announcement follows the company's recent reports of double-digital growth in 2019.
Sven Johansson, Managing Director of Strongbox comments, "We are very fortunate, but it's no surprise – the country must continue building its infrastructure on a massive scale, and the only way to make that feasible financially is to lease the heavy equipment and machinery they need to complete the projects."
Demand for leased equipment in China continues to grow. In the last decade, construction in China has grown at a rate of 9.16% every year – in other words, it has more than doubled in the last decade. Spending on construction is projected to reach USD $1 Trillion in 2020.
For China's mega projects, it is too cost-prohibitive to purchase the necessary equipment outright. That's why these projects rely heavily on leasing companies such as StrongBox to provide the equipment needed with affordable terms.
StrongBox's leasing program makes top-of-the-line equipment available for the largest of projects. Its commitment to providing high-quality equipment and machines at competitive pricing creates enormous value for their enterprise and government clients.
The company has been in business since 2003 and is a premier heavy machinery and construction equipment provider to large companies, enterprises, and government organizations.
StrongBox's leasing solutions offer affordable ways for companies to acquire the equipment they need to execute large jobs without needing large amounts of capital to buy the equipment. StrongBox's extensive inventory includes all equipment today's construction industry requires.
StrongBox's business model delivers much-needed equipment to construction companies without incurring massive overhead, and it provides private investors unique access to booming global construction markets and the double-digit profits the construction market is delivering. By offering private investors access to this market, StrongBox increases its market share, thereby strengthening its growth.
Page Updated Last on: Jan 17, 2020