(Yicai Global) Aug. 8 -- China State Construction Engineering's overseas unit will execute a highway project worth USD2.1 billion in the South American country of Argentina.
China Construction America signed the first public-private partnership contract between a Chinese firm and Argentine authorities to build the national highway B line, the Beijing-based parent said in a statement today. The highway B will become the most important expressway in the region, which will play a key role in speeding up the economy along the route.
The road will span over 500 kilometers and deploy the engineering, procurement and construction form of contracting, where China Construction America will design and build the project in five years, and after operating it for 10 years it will hand over the rights to the local government.
CSCEC has previously won bids for projects such as building the Amador Convention Center and residential housing project 'City of Hope' in the Central American country of Panama.
Editor: Emmi Laine