Chinese Firm Bags Another Two Construction Projects in Africa
Tang Shihua
DATE:  Jan 15 2018
/ SOURCE:  Yicai
Chinese Firm Bags Another Two Construction Projects in Africa Chinese Firm Bags Another Two Construction Projects in Africa

(Yicai Global) Jan. 15 -- State-owned engineering contractor China Wuyi Co. extends its momentum in the African market with two more construction contracts in Uganda and Ethiopia worth CNY891.4 million (USD138 million) and CNY502 million (USD77.83 million), respectively.

The Fujian-based firm has won seven projects on the continent over the last 12 months worth a combined CNY3.1 billion (USD480 million).

Under the new contract in Uganda, China Wuyi will design and build road routes from Buhimba to Bulamagi and from Bulamagi to Kakumiro, with financing coming from the Export-Import Bank of China. The project will last 36 months, stretching 93 kilometers and generating CNY45 million in profit.

China Wuyi will also build provide civil engineering and installation services for a water and electricity system in Ethiopia under the terms of the second new contract. The project will run 36 months and bring expected profits of CNY25 million.

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Keywords:   Win A Tender,Highway And Building Construction,Uganda,Ethiopia,China Wuyi