Construction on two rail transit lines starts in E. China's Suzhou City -- Construction started on the rail transit line 6 and line S1 in Suzhou City of east China's Jiangsu Province on Nov. 27. The line 6 is 36.12 kilometers long with a total investment of about 26 billion yuan, while the line S1 has a total length of 41.72 kilometers with an investment of 29.45 billion yuan. The two lines will be expected to be open to traffic in June, 2024 and December 2023, respectively. By now, the rail transit line 1, line 2 and line 4 in Suzhou have been already completed and put into use with a total length of 121 kilometers, serving more than 900,000 passengers per day on average.
CSUNPOWER signs EPC contract for 30MW solar power project in Pakistan -- CSUNPOWER, a Chinese clean energy solution provider, announced it had signed an EPC contract and an O&M contract for a 30MW solar power project with Asia Energy (Private) Ltd. on Nov. 26. Located in Punjab, Pakistan, the project is invested by Asia Energy and will be constructed by CSUNPOWER and the installation engineering company under CSCEC. The project will be equipped with solar tracking system, 132 KV high voltage booster substation, and supervised by a German company. The project is scheduled to start constructing in June next year, and complete by the end of 2019. Upon completion, the project will provide Pakistan with about 58,000,000 kwh of clean electricity a year and power 100,000 houses.
Two projects in Angola contracted by Chinese company come into effect -- China CAMC Engineering Co.,Ltd. (002051.SZ) recently announced it had received the prepayment for the Malanje Youth Center project and Malanje River dredging project in Angola, which means the two projects have officially come into effect. The business contract of the construction and equipment supply project of the Malanje Youth Center and that of the Malanje River dredging project totaled 78.06 million U.S. dollars, which was approximately 542 million yuan, and accounted for 4.97 percent of the company's total revenue in 2017 at 10.91 billion yuan.
Algeria, China sign pacts ahead of 6-bln-USD mega phosphate project -- Algeria and China on Nov. 26 signed cooperation documents for the implementation of a mega integrated project worth 6 billion U.S. dollars for the exploitation of phosphate in the eastern region of Algeria. The deals were signed by CEO of Algerian energy giant Sonatrach Abdelmoumen Ould Kaddour and Chairman of CITIC Construction Chen Xiaojia in Algeria. The two parties are due to meet again in December to sign the shareholder pact for the establishment of the consortium group, as a final step that precedes the start of the construction stage of the project due early 2019. The production phase is planned for 2022. China's share in this mega project is estimated at 49 percent, while the Algerian party will hold the majority share of 51 percent. The project will include the duplication of the railway connecting the production site to the port of Annaba, and connecting the sites with industrial water, gas and power.
ZPEC inks RMB201mln Russian oilfield drilling project contract with YARGEO -- Zhongman Petroleum and Natural Gas Group Corp.，Ltd. (603619.SH, ZPEC) announced Tuesday that its Gubkin branch in Russia had inked an oilfield drilling project contract with YARGEO worth about 1.924 billion Russian Rubles (approximately 201 million yuan). The oilfield is located in the Yamalo-Nenets Autonomous Okrug of Russia. YARGEO is a subsidiary of Russia's largest independent natural gas producer NOVATEK.
Ramallah city launches China-funded ring road project -- Palestinian city of Ramallah celebrated Monday the launch of a massive China-funded project to build ring road connecting the growing city towns and its center to ease traffic problem. The project, funded with over 8 million U.S. dollars, is going to pave nine roads over 7.5 km in length, of which the construction is expected to start by the end of this year and be ready in 14 months.The project was studied by technical experts from China, and will be a solution to open access to all services in the growing city. It is part of another plan to construct a wider road network to serve the city and its residents.
Yamal LNG project fully put into production -- The third production line of Yamal liquefied natural gas (LNG) project successfully produced LNG liquid recently, marking the largest economic cooperation project between China and Russia is now fully completed and put into production. The project is planned to have an annual production capacity of 25 billion cubic meters of natural gas, 16.5 million metric tons (tonnes) of LNG and 1 million tonnes of condensate. It took about five days for the third production line to produce the first drop of LNG liquid, less time needed for similar large-scale LNG projects. Located in Russia's Yamal Peninsula in the Arctic, the project is jointly owned by Novatek (50.1 percent), France's Total (20 percent), China National Petroleum Corporation (20 percent) and China's Silk Road Fund (9.9 percent).
Chinese company constructed LPG terminal in Sri Lanka comes to mechanical completion -- The Chinese company constructed liquefied petroleum gas (LPG) terminal in the Hambantota Port in the south of Sri Lanka has come to mechanical completion. The LPG terminal is invested by one of Sri Lanka's largest LPG distributors, LAUGFS, and constructed by China Huanqiu contracting & Engineering Co., LTD, subsidiary of China National Petroleum Corporation. The LPG terminal in Sri Lanka's Hambantota is the largest of its kind in the Indian Ocean region with a total storage exceeding 60,000 cubic meters.
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