(Yicai Global) June 8 -- A unit of Sinoma International Engineering has won a CNY2.8 billion (USD441 million) contract with Egypt’s defense ministry to build a large residential complex in the north African country.

Under the deal, Sinoma will build 109 12-story residential buildings and support facilities in the northeastern city of Kafr El Sheikh, the Chinese civil engineering firm said in a statement late yesterday. Construction is expected to take 22 months.

The project’s value equals about 12.5 percent of Sinoma’s revenue last year and will help the Beijing-based company diversify its overseas engineering business, it said.

Shares of Sinoma International [SHA:600970] ended little changed today, dipping 0.2 percent to CNY9.69 (USD1.52), after retreating from an earlier gain of as much as 1.8 percent.

Editor: Futura Costaglione