MADRID, Sept. 21 (Xinhua) -- Chinese company JSTI bought the Spanish engineering firm Eptisa for an initial investment of 36 million euros (40.15 million US dollars), JSTI CEO Wang Junhua confirmed to Xinhua on Wednesday.
He said that JSTI would increase the investment in the Spanish company in the following two or four years, bringing the total amount of investment to 46 million euros.
JSTI said the acquisition was part of a strategy to strengthen the company's expansion beyond the local market, while Eptisa said that the operation "strengthens their position at an international level".
Eptisa's Executive Director Luis Villarroya said the deal reinforced the global character of the company, saying that thanks to it, they would be able to deal with bigger projects.
Eptisa has a workforce of about 2,000 employees and a project portfolio that amounted to 182 million euros in 2015 distributed into more than 40 countries.
The company carries out engineering and consultancy in the sectors of water, environment, energy, transport infrastructures or construction, among others. Some of their clients are the World Bank, the Asian Development Bank and the European Union. Enditem
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