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Sinohydro wins a land bid in Changsha

Nov. 27, 2012 (China Knowledge) - Sinohydro Group Ltd<601669>, a Chinese dam builder, has announced its subsidiary won a land bid in Changsha, Hunan Province, at a consideration of RMB 1.42 billion.

In a statement filed with the Shanghai Stock Exchange, the company said the plot which covers land area of 237.74 Mu will have a plot ratio of less than 3.0.

The land can be developed for both commercial and residential properties.

In the first nine months of this year, the Chinese dam builder saw its net profit increased 11.9% YoY to RMB 2.88 billion, and the company inked RMB 127.06 billion worth of contracts in the nine-month period, which accounted for 82% of its annual target, China Knowledge reported earlier.

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