Read this article in French German Italian Portuguese Spanish
China’s biggest construction company grew new contracts by 10.6% in 2023
19 January 2024
The recently completed fourth bridge in Abidjan, Ivory Coast (Image: CSCEC)
China State Construction (CSCEC) grew the value of its new construction contracts by 10.6% in 2023, as compared to the year before.
That’s according to new figures unveiled by the company covering January to December last year.
It claimed that newly signed construction contracts for the period totalled CNY 3,872.7billion (US$544.4 billion).
The biggest growth area was infrastructure, where the value of newly signed contracts climbed 15.1% year on year to CNY 1,168.5 billion (US$ 164.3 billion).
Housing construction made up the bulk of newly signed contracts with 8.8% year-on-year growth to CNY 2,689.4 billion (US$ 378.1 billion).
The majority of contracts were in domestic construction, totalling CNY 3,697 billion (US$ 519.7 billion). Overseas construction contracts for the year totalled CNY 175.5 billion (US$ 24.7 billion).
Among work CSCEC has completed overseas recently is the construction of several office buildings in Egypt’s New Administrative Capital, which were officially accepted by Egyptian Prime Minister Mostafa Madbouly at a ceremony earlier this month.
CSCEC is also building the main terminal of Iraq’s Nasiriyah International Airport, visited recently by Iraqi Prime Minister Mohammed Shia’ Al Sudani, while in Ivory Coast the CSCEC-built fourth bridge project in Abidjan has just opened.
STAY CONNECTED
Receive the information you need when you need it through our world-leading magazines, newsletters and daily briefings.
CONNECT WITH THE TEAM
