China Wuyi Wins Bid for USD62 Million Ethiopian Road Project

Yicai

2016-12-05

(Yicai Global) Dec. 5 -- China Wuyi Co. [SHE:000797] won the bid on road construction project in Ethiopia worth ETB13.66 billion (USD62 million/CNY426 million), the company said yesterday.

The company is poised to reap CNY20 million in profits from the project, located in Afdera in the Ethiopia's Afar Region -- close to its borders with Djibouti and Eritrea -- per the statement.

Construction of earthwork and drainage structures, bridge building and concrete paving will be the firm’s primary tasks.