Driven by the Chinese Government’s Belt and Road Initiative, China Wu Yi had for some time been considering how best to enter the Australian and South-East Asian markets. These considerations led to the company deciding that it needed a strong, well-respected Australian partner if its entry was to be successful.
Simultaneously, Doric Group had been considering its growth potential and strategies to become a major national contractor in Australia. The company realized that it needed a strong partner with substantial financial capacity and a wealth of experience in delivering major projects.
Coincidentally, while both companies were considering these matters, a client organisation that had been planning a major project in Western Australia and knew Doric Group well, was also planning a major project in Fujian Province and knew China Wu Yi.
Given their experience with both companies, this client realized that an alliance between Doric Group and China Wu Yi could prove to be a powerful vehicle for the delivery of their major project in Western Australia. This proved to be a catalyst.
An introduction was arranged and it soon became clear that the two companies are aligned in terms of their values, principles and goals.
During the course of subsequent meetings, the companies forged a long-term, equal shareholding agreement, which culminated in the establishment of Wu Yi DORIC.
Under the terms of this agreement, China Wu Yi’s primary contributions to Wu Yi DORIC are financial and technical support, key people and access to its global supply chain. Doric Group’s primary contributions are local experience, skilled people and access to its extensive network of contacts.