Was this what the Obama China trip was all about? China State Construction nets $100m US subway deal
Oath Keeper
billion worth of contracts in the US this year. [China Daily]
China State Construction Engineering Corp, the largest contractor in
China, has bagged a subway ventilation project worth about $100
million in New York's Manhattan area, marking the construction giant's
third order in the United States' infrastructure space this year.
The contract was given to China Construction American Co, a
subsidiary, the Wall Street Journal quoted a source as saying.
"The new project, along with the $410-million Hamilton Bridge project
and a $1.7-billion entertainment project it won earlier this year,
signals China State Construction's ambition to tap the American
construction market," said Li Zhirui, an industry analyst at First
Capital Securities.
Li, however, said the order came as no surprise as the US government
is spending massively on infrastructure projects.
The three orders only account for about 4 percent of the value of its
total orders this year, Li added.
In the first three quarters of this year, the Chinese construction
giant signed more than $2 billion worth of contracts in the US market.
China State Construction was also the contractor for a high school, a
railway station and the Chinese embassy in the US.
more at:
http://www.chinadaily.com.cn/bizchina/2009-11/24/content_9028469.htm