China State Construction wins $94.35 million contract for NY subway
- Source: Global Times
- [16:01 November 23 2009]
- Comments
China State Construction Engineering Corp. won a bid worth $94.35 million to build the ventilation facilities of the Manhattan subway of the New York's "East Side Access" project, according to a Wall Street Journal report citing an unnamed source close to the deal Monday.
The source also disclosed the contract will be given to one of State-owned enterprise's subsidiaries named China Construction American Co.
This will be the third time China State Construction is entering the market to build infrastructure in New York City Metropolitan Area this year after the $410 million bid for the Alexander Hamilton Bridge renovation project in March and the $1.7 billion contract with Revel Entertainment Group in September this year.
In the previous three quarters this year, the total value of the contracts China State Construction signed in the US market has topped $2 billion.
The company also achieved good results in other overseas markets. The Algeria branch of the company signed contracts worth $800 million, up 32 percent year-on-year, and the Middle East branch also signed contracts totaling $800 million, up 62 percent year-on-year.
Analysts point out the recovering overseas construction market will provide strong support to China's construction industry.
