China Civil Engineering signs contract for Indonesian city

Firm signs US$1.6 billion deal to build roads and water treatment plant for Indonesia's Jonggol city

A subsidiary of Beijing-based China Civil Engineering Construction Corporation has signed a US$1.6 billion contract to build roads and a water treatment plant in Indonesia.

A company statement said that China Civil Engineering Construction Corporation, a subsidiary of China Railway Construction, has entered into two contract agreements for the Jonggol New City Project in West Java Province, Indonesia, with regards to the design and construction of 30,000 units of affordable housing for Lot I as well as the design and construction of road networks, an earth dam and a water treatment plant for Lot II.

The agreement was signed with Indonesian company PT Sentul City. The construction periods of the two lots of the project are 48 months and 60 months, respectively. The statement said that the US$1.6 billion contractual amount is equivalent to approximately 1.55% of the operating revenue of China Civil Engineering Construction for the year 2018 under the PRC accounting standards.

Date

12 Nov 2019

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