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4-Traders Homepage  >  Equities  >  Stock Exchange of Hong Kong  >  China Machinery Engineering Corp    1829   CNE100001NP4

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China Machinery Engineering : Mengpin Project in Laos Receives Certificate of Merit

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04/14/2017 | 10:13am CEST

As the first project of the 1stComplete Plants Division of CMEC in Laos, theMengpinpower transmission & distribution project was signed in May 2014 for EPC general contracting. The owner of the project is EDL.At present, the project has been completed ahead of schedule and received TOC issued by the owner in September 2016.

Recently, the project office has received a certificate of merit from its owner. The owner thanked and praised CMEC employees who are involved in the implementation of the project for their wisdom, ability, diligence and rigorousness.

In August 2012, CMEC started its operation in Laos; in May 2014, it signed the EPC general contract with the owner; in November 2014, it signed the loan agreement; in 2015, the project was officially kicked off.

Previously, Laos had no nationwide state grid and needed to buy electricity at a high cost for its northern region that suffers from shortage of electricity. The Lao government is in urgent need of building a state grid to solve the problem, therefore, the country has huge market potentials and great development capability.

CMEC, by taking practical actions, has steadily gained recognition from the owner and consolidated its market position in Laos.

CMEC - China Machinery Engineering Corporation published this content on 06 April 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 14 April 2017 08:13:20 UTC.

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EBIT 2017 2 184 M
Net income 2017 2 494 M
Finance 2017 11 659 M
Yield 2017 4,02%
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