Jumbo Jet subsidiary signs US$90M dealership agreement with Chinese company
…modern showroom being built in Guyana
A subsidiary of the Jumbo Jet Group, NM Trucking Auto Sales and Agri Machinery, has signed a US$90 million final binding agreement with Xuzhou Construction Machinery Group (XCMG) for the importation of a wide variety of heavy-duty equipment and machinery.
Nasrudeen Junior Mohamed & Commercial Director of XCMG South American Group, Wu Shuxin, signing the agreement
Rated as the third largest supplier of heavy-duty equipment, XCMG says it is eager to enter the vastly growing Guyana market, according to a press release issued by Jumbo Jet.
It was noted that NM Trucking (Jumbo Jet) has been responsible for importation of over 80 per cent of the heavy-duty machinery and trucks in Guyana for the past 28 years, a move which allowed the company to establish a solid foundation in the mining and construction sectors.
Mr. Nasrudeen ‘Junior’ Mohamed and other representatives of NM Trucking had, in February 2023, journeyed to Brazil and signed the initial MOU at the office of XCMG Brazil Industria LTDA, the South American headquarters. After all the necessary preparations were made locally to accommodate the first shipment of machines from XCMG, Mohamed then travelled to China to close the deal and take a tour of the factory located at No. 1 Industry Area, Xuzhou Economic Development Zone Jiangsu, Mainland China.
With the value of the three-year term contract set at US $90,000,000, NM Trucking has assured that the construction of a state-of-the-art facility and showroom in Guyana has commenced. It was noted that, through this deal, special attention and emphasis will be placed on heavy-duty construction, asphalt paving, mining and lifting equipment, and machinery.
“NM Trucking and Jumbo Jet has been in this business for quite some time, and continues to stay current. We understand the needs of the Guyana market, and are willing to make the investment to boost the standard and quality of projects in Guyana. After signing the final documents, NM Trucking can focus heavily on the completion of their new showroom. The first three shipments are expected to arrive in Guyana in the month of May, June and July, with 41, 30, and 54 pieces of equipment respectively per shipment,” Mohamed stated.
Xuzhou Construction Machinery Group was founded in 1943, and has since stood at the forefront of construction machinery, and has grown significantly into one of the world’s largest and most influential enterprise groups with its global annual sales exceeding US$14B for three consecutive years.
