BEIJING, Jan. 3 (Xinhua) -- China Railway Construction Corporation Limited (CRCC, 601186.SH), one of the largest engineering contractors in China, prioritizes expansion in overseas market and has actively participated in construction of the Belt and Road in 2018, reported by Securities Daily.
With the implementation of the "going global" strategy, CRCC has established 42 subsidiaries in 42 countries along Belt and Road routes, and undertaken over 900 projects in more than 120 countries and regions around the world, including 225 projects getting underway.
Despite of the slowdown in the domestic infrastructure investment, the value of newly signed contracts of CRCC maintained a year-on-year growth of 10.39 percent in the first half in 2018 thanks to the rapid growth of its overseas market.
The value of newly signed overseas contracts of CRCC surged 52.74 percent to 68.8 billion yuan in the first half of 2018, and recorded 42.05 percent year-on-year growth in the third quarter.
The outstanding overseas performance of CRCC in the second half of 2018 was highlighted by its contract with Argentina's Ministry of Transport on the first-phase project of rebuilding the San Martin freight railway signed on the G20 summit held in Argentina.
It is the longest railway reconstruction project in Latin America to be built by Chinese enterprise as general contractor, and CRCC undertook the design, construction and procurement of the project.
So far, CRCC has accomplished a shift from a labor and engineering service exporter to a whole industry chain exporter to capture the overseas opportunities. (Edited by Wu Shuang, wushuang2018@xinhua.org)
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