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China CAMC Engineering inks US$4.13-bln deal with Ukraine's ULF

Apr. 19, 2012 (China Knowledge) - China CAMC Engineering Co Ltd<002051>, an international engineering contractor, announced yesterday that announced yesterday that it has signed a cooperation framework agreement worth US$4.13 billion with Ukrainian agricultural giant UkrLandFarming PLC (ULF).

Pursuant to the agreement, CAMC Engineering will help ULF, the largest agricultural group in Ukraine, to build new energy power stations, grain ports, livestock farms and tractor assembly plants.

The new agreement came after CAMC Engineering inked a US$4-billion memorandum of cooperation on Feb. 24 this year.

CAMC Engineering said that the cooperation with ULF, which is expected to last for eight to ten years, would help the company further expand into the agriculture sector and tap the Ukrainian market.

CAMC Engineering earlier reported a net profit of RMB 463 million for 2011, 27.38% more than in 2010.

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