Firm behind Three Gorges Dam reports surging overseas deals

September 1, 2015 5:26 am 

WUHAN, Aug. 31 — Chinese construction giant China Gezhouba Group Co. Ltd., which built the Three Gorges Dam, on Monday announced that the value of its signed overseas contracts in the first half (H1) of 2015 had more than doubled from the same period last year.

During the first six months of 2015, Gezhouba inked deals worth 144.7 billion yuan (USD 22.6 billion), adding that overseas projects, worth 65.9 billion yuan, registered an annual rise of 134 percent.

This year's new contracts include a USD1 billion sewage plant project in Egypt, and a USD4.5 billion hydro power station project in Angola.

The state-owned company reported H1 net profits of 1.26 billion yuan, up 8.12 percent from a year earlier due to its major domestic and foreign construction projects, .

Gezhouba projects annual revenue from its international business of 18 billion yuan, nearly 21 times more than in 2006, said deputy general manager Chen Xiaohua.

The company has been prioritizing international business projects. In fact, it currently had overseas contracts totaling 159.2 billion yuan in hand. (PNA/Xinhua)

RMA/BNB/SSC

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