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Rabu, 16 Oktober 2019 07:37:00

Hebei Construction Group Won Bid for Beijing-Dezhou Expressway Project

Link Xiong'an New Area with Beijing New Airport; Contract amounts approximately RMB1.19 billion

HONG KONG, - 15 October 2019 - Hebei Construction Group Corporation Limited ("Hebei Construction Group" and its subsidiaries, together, the "Group", stock code: 1727) is pleased to announce that the Company received the letter of acceptance, stating that the Company has won the ZT2 bid section of main body construction project of Beijing-Hebei boundary to Jinshi Expressway section along Beijing New Airport - Dezhou Expressway (the "Project").

The contract amount of the Project is approximately RMB1.19 billion and the construction period is 19 months.  The Project is expected to be completed in 2021.

The Project is located within the jurisdiction of Langfang City, Hebei Province, which starts from Beijing-Hebei boundary in the east of Jijiazhuang Village, Gu'an County, Langfang City, and links to Beijing section (the connecting line between the north and south terminals of the new airport) with the roadbed being 14 kilometers in length and the road surface being 14.4 kilometers in length. The Project is an integral part of Beijing-Dezhou Expressway. Upon completion, the Beijing-Dezhou Expressway will become the main expressway from Xiong'an New Area to Beijing new airport and an important link between Xiong'an New Area and southeast Hebei and western Shandong.

The Board believes that winning the bid for the Project demonstrates the Company's strong strength and leading position in the construction industry in Hebei Province and will create good opportunities for the Company to further expand its market and business, improve its profitability and realize cross-regional development.

Hebei Construction Group has laid a solid foundation in Hebei Province in its long history. Leveraging on its high quality construction engineering services and geographical advantages, the Group has played an important role in the construction of Beijing new airport and Xiong'an New Area. Being the only non-state-owned company to participate in the construction of key components of Beijing Daxing International Airport, the Group has accumulated contract value of more than RMB3 billion. The development potential of Hebei Xiong'an New Area will continue to be growth drivers of the Group. (*).