(Yicai) Oct. 18 -- Engineering contractor China CAMC Engineering has secured a CNY3.6 billion (USD491.5 million) contract for reconstructing and expanding an airport in the capital city of Central America’s Nicaragua.

CAMCE will rebuild the Punta Huete Airport in Nicaragua’s capital city Managua and expand the original infrastructure into a high-grade international airport, the Beijing-based firm announced today, citing a deal it signed with the Ministry of Transport and Infrastructure of Nicaragua at the Belt and Road CEO Conference of the third Belt and Road Forum for International Cooperation in Beijing yesterday.

CAMCE will be responsible for the design, procurement, construction, equipment installation, and facility commissioning of the project, which will be completed in 48 months, the company added, without disclosing any further details.

Managua already has an international airport, the Augusto C. Sandino International Airport.

CAMCE is one of China’s major project contractors. In November last year, it won a USD289 million contract to build the main competition venues and service facilities of the 2025 Asian Youth Games in Uzbekistan.

CAMCE’s shares [SHE: 002051] were trading down 0.8 percent at CNY9.15 (USD1.25) as of lunch break in Shenzhen today.

Editor: Futura Costaglione