China State Construction has signed more than $2 billion worth of contracts in the US this year. (China Daily)
The contract was given to China Construction American Co, a subsidiary, the Wall Street Journal quoted a source as saying.
“The new project, along with the $410-million Hamilton Bridge project and a $1.7-billion entertainment project it won earlier this year, signals China State Construction’s ambition to tap the American construction market,” said Li Zhirui, an industry analyst at First Capital Securities.
Li, however, said the order came as no surprise as the US government is spending massively on infrastructure projects.
The three orders only account for about 4 percent of the value of its total orders this year, Li added.
In the first three quarters of this year, the Chinese construction giant signed more than $2 billion worth of contracts in the US market. China State Construction was also the contractor for a high school, a railway station and the Chinese embassy in the US.
Despite the progress made in the US market, the Middle East, Asia and Africa remain the State builder’s key markets. The value of its contracts in Algeria this year increased 32 percent year-on-year, exceeding $800 million, and the value of its contracts in the Middle East surged 62 percent year on year, also exceeding $800 million. – read more at ChinaDaily.com…
2 Responses to “China State Construction nets $100 million US subway deal”
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November 24th, 2009 at 7:30 pm
I was searching for something like this the other day.
November 24th, 2009 at 11:28 pm
Seems that the China State Construction companies is now trying to make theirmark in the US construction industry.As they have created their name in China,they have also been successful in making their name in the US construction industry by bagging a project of net worth $100 million.
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