Eurasian Resources Group enters into a principal agreement with China's NFC to complete the construction of its project in Africa; EXIM and ICBC to support the financing, Sinosure to provide the insurance
Honeywell and Eurasian Resources Group sign Memorandum of Understanding to enhance productivity of Global Operations
First joint project will improve production and inventory accounting to allow for better decision making and reduction of material losses
Honeywell (NYSE: HON) and Eurasian Resources Group (ERG) have signed a Memorandum of Understanding (MoU) to developinnovative technologies that will increase productivity atERG’s operations in Kazakhstan, Brazil and several African countries.
Under the MoU, Honeywell will initially implement its Symphonite™ statistical data reconciliation software to help ERG with its reporting process of production and inventory information. This will allow personnel to make better decisions, reduce losses and adhere to corporate governance guidelines.
“With our assets spread across Kazakhstan, Africa and Brazil, having reliable, accurate information is imperative to run our operations as efficiently as possible,” said Galymzhan Akhmetov, ERG Chief Information Officer. “We are looking forward to working with Honeywell to implement integrated automation systems and solutions across our operations.”
ERG operates in 15 countries across four continents and has more than 69,000 direct employees globally. It represents one third of the mining and metals sector of the Republic of Kazakhstan and provides electric power distribution and logistics services as one of the leaders of the State Programme for Industrial and Innovative Development. ERG is also a major cobalt and copperproducer in Africa and is pioneering an integrated iron ore mining and logistics project in Brazil.
“Over the last 40 years, Honeywell delivered leading technologies and services to companies in the mining industry,” said Alexei Zenkevich, general manager, Honeywell Process Solutions Russia / Customs Union. "We are excited to begin this relationship with Eurasian Resources Group in Kazakhstan and as a global software-industrial company are committed to delivering first-in-class solutions that enhance the productivity of their operations around the world.”
Honeywell is a leading supplier of automation solutions for the mining, minerals and metals (MMM) industries, with a worldwide presence and broad application experience. Honeywell automation solutions help control operations for a wide variety of metals and minerals. From concentration to smelting and refining, from blast furnaces to digestion, Honeywell has a solution to meet all control needs whilst significantly increasing business value. Honeywell solutions for automation, oil and gas, oil refining, energy, chemical, petrochemical, metallurgical and mining industries, control and security systems and smart metering are successfully implemented in many large local and international enterprises in Kazakhstan.