Danish Danfoss eyes billion kroner business in China

Danish Danfoss is right now at a historical breakthrough point on the Chinese market. The global producer of components and green tech solutions has taken the first step and now eyes the prospect of renovating the energy solution for 14 major cities in China, which will cause a billion kroner profit for the Danish company, Danish newspaper Berlingske reported.

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Danfoss’ Chairman Jørgen Mads Clausen og Head of District Heating Division Lars Tveen recently returned from China where they laid down the foundation stone for the new project in the city on Anshan. The contract for this project was signed last spring.

The Anshan project will utilize excess heat from the local steel industry plant Angang Steel to substitute coal and deliver energy to 1,8 mio. people in the city.

“We have been working intensely for this for 4 years, and now we see the result. To be honest I expect a decidedly billion affair in China,” Lars Tveen, who is the CEO of Danfoss’ district heating section and part of the group’s direction, said to Berlingske.

The breakthrough in the Chinese market is a result of growing need for green and sustainable solutions in the growth economy, Berlingske wrote.

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Also the Danish Ambassador to China appreciates the Danfoss project, but not without being a little sceptical.

“The Danfoss project is a good breakthrough, but there is still a long way to go. China has just recently started to think green, and the Chinese businesses and authorities can not always see, that the expensive and more effective Danish solutions are actually worthwhile,” Friis Arne Petersen said to Berlingske.

 

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