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Sinohydro wins RMB 16.85 bln project

Jun. 6, 2012 (China Knowledge) - Sinohydro Group Ltd<601669>, a Chinese dam builder, announced yesterday that it recently won the bid for an RMB 16.85-billion urban rail project in Shenzhen of Guangdong Province.

The company said in a statement filed with the Shanghai Stock Exchange that the project was scheduled to start construction on May 30, 2012 and is expected to begin trial operation on Oct. 30, 2016.

The contract value was equivalent to 14.85% of the company's operating revenue in 2011, which increased 11.8% YoY to RMB 113.47 billion.

The company signed RMB 127.85 billion of contracts last year. In 2012, the firm aims to secure RMB 155 billion of contracts and realize RMB 123.1 billion in operating revenue.

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