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China State Construction wins RMB 36.72-bln contracts

May. 24, 2012 (China Knowledge) - China State Construction Engineering Corp Ltd<601668>, China's largest property and construction conglomerate, announced yesterday that it recently won the bid for nine major projects with contract value of RMB 36.72 billion in total.

The company said in a statement filed with the Shanghai Stock Exchange that the contract value was equivalent to 7.6% of its operating revenue in 2011.

The company said earlier that it signed RMB 267.3 billion of construction contracts in the first four months of this year, 7.3% more than in the same period of last year.

This year, China State Construction aims to secure RMB 900 billion of construction works and realize RMB 560 billion in operating revenue.

Being the largest construction company it has competitive edge over many real estate developers in terms of finances and cost advantage, favor by many property analysts.

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