CITIC Construction

Last updated
CITIC Construction Co., Ltd.
中信建设有限责任公司
Type State owned enterprise
IndustryConstruction, engineering
Founded1960;62 years ago (1960)
Headquarters Beijing, China
Parent CITIC Group
Website cici.citic.com

CITIC Construction is the construction and engineering subsidiary of the CITIC Group, a Chinese state owned conglomerate. With US$2.73 billion in revenue in 2011, the company is ranked among the 100 largest construction companies in the world. [1]

CITIC Construction in 2010 formed a consortium with zinc producer Baiyin Non-Ferrous Group to make an equity investment of $185 million in Oxus Gold, a gold miner with assets in Central Asia. [2] [3] The financing deal gave the consortium a 59.7% stake in the company which had planned to use the funds to develop the Amantaytau Goldfields, an asset it held 50% of the ownership to in Uzbekistan. [2] The goal at the time of the deal was to expand annual production at the Uzbek mine to 300,000 ounces. [2]

On a two-day visit to Angola in 2012, Chang Zhenming head of the CITIC Group announced that the company was halfway through completing a plan to build 100,000 homes across 10 provinces in the country. [4]

Related Research Articles

<span class="mw-page-title-main">Central Asia</span> Region in Asia

Central Asia is a region of Asia that stretches from the Caspian Sea in the west to western China and Mongolia in the east, and from Afghanistan and Iran in the south to Russia in the north. It consists of the former Soviet republics of Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan, and Uzbekistan, and is colloquially referred to as "The -Stans" as the countries all have names ending with the Persian suffix "-stan", meaning "land of". Current geographical location of Central Asia was formerly part of the historic Turkistan also known as Turan.

<span class="mw-page-title-main">Economy of Kyrgyzstan</span> National economy

The economy of Kyrgyzstan is heavily dependent on the agricultural sector. Cotton, tobacco, wool, and meat are the main agricultural products, although only tobacco and cotton are exported in any quantity. According to Healy Consultants, Kyrgyzstan's economy relies heavily on the strength of industrial exports, with plentiful reserves of gold, mercury and uranium. The economy also relies heavily on remittances from foreign workers. Following independence, Kyrgyzstan was progressive in carrying out market reforms, such as an improved regulatory system and land reform. In 1998, Kyrgyzstan was the first Commonwealth of Independent States (CIS) country to be accepted into the World Trade Organization. Much of the government's stock in enterprises has been sold. Kyrgyzstan's economic performance has been hindered by widespread corruption, low foreign investment and general regional instability. Despite those issues, Kyrgyzstan is ranked 70th on the ease of doing business index.

<span class="mw-page-title-main">Economy of Uzbekistan</span> National economy

Since independence, the economy of Uzbekistan continues to exist as a Soviet-style command economy, with a slow transformation to a market economy. The progress of governmental economic policy reforms has been cautious, but cumulatively Uzbekistan has shown respectable achievements. Its restrictive trade regime and generally interventionist policies continue to have a negative effect on the economy. Substantial structural reform is needed, particularly in these areas: improving the investment climate for foreign investors, strengthening the banking system, and freeing the agricultural sector from state control. Remaining restrictions on currency conversion capacity and other government measures to control economic activity, including the implementation of severe import restrictions and sporadic closures of Uzbekistan's borders with neighboring Kazakhstan, Kyrgyzstan, and Tajikistan have led international lending organizations to suspend or scale back credits.

<span class="mw-page-title-main">SoftBank Group</span> Japanese conglomerate company

SoftBank Group Corp. is a Japanese multinational conglomerate holding company headquartered in Minato, Tokyo which focuses on investment management. The Group primarily invests in companies operating in technology, energy, and financial sectors. It also runs the Vision Fund, the world's largest technology-focused venture capital fund, with over $100 billion in capital. Fund investors include sovereign wealth funds from countries in the Middle East.

<span class="mw-page-title-main">Balkh Province</span> Province of Afghanistan

Balkh is one of the 34 provinces of Afghanistan, located in the north of the country. It is divided into 15 districts and has a population of about 1,509,183, which is multi-ethnic and mostly a Persian-speaking society. The city of Mazar-i-Sharif serves as the capital of the province. The Mazar-e Sharif International Airport and Camp Marmal sit on the eastern edge of Mazar-i-Sharif.

<span class="mw-page-title-main">Bakun Dam</span> Dam in Sarawak, Malaysia

The Bakun Dam is an embankment dam located in Belaga District, Kapit Division, Sarawak, Malaysia, on the Balui River, a tributary or source of the Rajang River and some sixty kilometres east of Belaga. As part of the project, the second tallest concrete-faced rockfill dam in the world would be built. It is planned to generate 2,400 megawatts (MW) of electricity once completed.

<span class="mw-page-title-main">PetroChina</span> Chinese oil producer

PetroChina Company Limited is a Chinese oil and gas company and is the listed arm of state-owned China National Petroleum Corporation (CNPC), headquartered in Dongcheng District, Beijing. The company is currently Asia's largest oil and gas producer and was China's second biggest oil producer in 2006. Traded in Hong Kong and New York, the mainland enterprise announced its plans to issue stock in Shanghai in November 2007, and subsequently entered the constituent of SSE 50 Index. In the 2020 Forbes Global 2000, PetroChina was ranked as the 32nd-largest public company in the world.

<span class="mw-page-title-main">Sinopec</span> Chinese oil and gas enterprise

China Petroleum & Chemical Corporation (中国石油化工股份有限公司) or Sinopec, is a Chinese oil and gas enterprise based in Beijing. It is listed in Hong Kong and also trades in Shanghai.

<span class="mw-page-title-main">China National Petroleum Corporation</span> Chinese major national oil and gas corporation

The China National Petroleum Corporation (CNPC) is a major national oil and gas corporation of China and one of the largest integrated energy groups in the world. Its headquarters are in Dongcheng District, Beijing. CNPC was ranked fourth in 2020 Fortune Global 500, a global ranking of the largest corporations by revenue.

Kyaukpyu ,the second capital of Rakhine State, is a major town in Rakhine State, in western Myanmar. It is located on the north western corner of Yanbye Island on Combermere Bay, and is 250 miles (400 km) north-west of Yangon. It is the principal town of Kyaukpyu Township and Kyaukpyu District. The town is situated on a superb natural harbor which connects the rice trade between Calcutta and Yangon. The estimated population in 1983 was 19,456 inhabitants. The population of Kyaukpyu Urban area is 20,866 as of 2014, while Kyaukpyu Township's population is 165,352.

<span class="mw-page-title-main">CITIC Limited</span>

CITIC Limited is a conglomerate headquartered in Hong Kong. Its shares are listed on the Main Board of the Hong Kong Stock Exchange, and it is a constituent of the Hang Seng Index. 58% of its issued shares are owned by the Chinese state-owned CITIC Group.

<span class="mw-page-title-main">Atkins (company)</span> British design and construction company

Atkins is a British multinational engineering, design, planning, architectural design, project management and consulting services company. It is a subsidiary of SNC-Lavalin and is headquartered in London.

<span class="mw-page-title-main">Energy policy of Kazakhstan</span>

Kazakhstan owns large reserves of energy resources, and therefore the energy policy of Kazakhstan has influence over the world's overall energy supply. Although Kazakhstan has not described itself as an energy superpower, Kazakhstan's former president Nursultan Nazarbayev claimed Kazakhstan will become a factor of energy security in Asia and Europe. Kazakhstan has a strategic geographical location to control oil and gas flows from Central Asia to East (China) and West.

The national holding company Uzbekneftegaz is a state-owned holding company of Uzbekistan's oil and gas industry.

<span class="mw-page-title-main">China Railway Construction Corporation</span> Chinese listed construction company

China Railway Construction Corporation Limited is a listed construction enterprise based in Beijing, China, that was the second largest construction and engineering company in the world by revenue in 2014.

<span class="mw-page-title-main">Kazakhstan–South Korea relations</span> Bilateral relations

Kazakhstan–South Korea relations are the international relations between Kazakhstan and the South Korea.

<span class="mw-page-title-main">National Bank of Uzbekistan</span>

National Bank of the Republic of Uzbekistan for Foreign Economic Activity' Joint Stock Company, same as the National Bank of Uzbekistan (NBU) is universal commercial bank of Uzbekistan. It is the largest bank of Uzbekistan in the volume of assets combining the functions of project financing, universal commercial, investment and savings banks.

<span class="mw-page-title-main">Energy in Angola</span> Overview of the production, consumption, import and export of energy and electricity in Angola

Energy in Angola describes energy and electricity production, consumption and export from Angola. The energy policy of Angola reflects energy policy and the politics of Angola.

<span class="mw-page-title-main">Hydropower Dams in Myanmar</span>

There are almost 200 large dams in Myanmar. Myanmar (Burma) has a large hydroelectric power potential of 39,000 megawatts (52,000,000 hp), although the economical exploitable potential is about 37,000 megawatts (50,000,000 hp). Between 1990 and 2002, the country tripled its installed capacity of hydro plants, increasing from 253 megawatts (339,000 hp) to 745 megawatts (999,000 hp). Total installed capacity in 2010 is at least 2,449 megawatts (3,284,000 hp) MW, 6% of potential. Several large dams are planned to increase future hydro utilization.

The Uganda Oil Refinery is a planned crude oil refinery in Uganda.

References

  1. "Top 225 Global Contractors". Engineering News-Record.
  2. 1 2 3 "Oxus Gold to get $185 mln from Chinese investors". Reuters. January 7, 2010.
  3. Jessica Seah (January 19, 2010). "Firms facilitate debut investment into Uzbekistan". Asia Legal Business. Archived from the original on December 6, 2010.
  4. "Grupo CITIC da China projecta construir mais de 100 mil casas". Angola Press. 2012-09-19.