(Yicai Global) Nov. 20 -- Chinese builder China Wuyi has bagged a CNY323 million (USD46.5 million) contract to repair, extend, transform and maintain a 160-kilometer-long highway in Papua New Guinea.

China Wuyi has received a letter of bid acceptance from the Oceanic country's Department of Works, the Fuzhou-based contractor said in a statement.

The firm will be responsible for repair, extension, transformation and maintenance of the highway, including ground works, roadbed and subbase, asphalt surface treatment, bridge repair as well as riverbank and road maintenance.

The Asian Development Bank-funded project is an important part connecting the country's second largest harbor city Lae and the third largest city Mount Hagen.

China Wuyi previously won a CNY180 million contract in the country in February last year.