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China State Const. inks HK$30.28 bln of contracts in 2011

Jan. 11, 2012 (China Knowledge) - China State Construction International Holding<3311>, a wholly-owned subsidiary of China State Construction Engineering Corp<601668>, signed HK$30.28 billion worth of contracts in 2011, reflecting a year-on-year increase of 21.5% or fulfilling its target of RMB 30 billion.

Of the total contract value, HK$18.85 billion was derived from infrastructure construction, including China's indemnificatory housing project, jumping 294.35% from two years earlier.

Contracts that were acquired in mainland China, Hong Kong and Macau, are valued at HK$930 million, HK$5.74 billion and HK$4.76 billion respectively.

As of December 31, 2011, Hong Kong-listed China State Construction International had secured HK$73.95 billion of contracts, including HK$48.92 billion of uncompleted contracts.

The company, which has acquired HK$2.96 billion of contracts from the beginning of this year, aims to sign more than HK$33 billion of contracts in 2012, of which HK$15 billion from the indemnificatory housing project and some turn-key projects, sources reported.

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