Type State-owned enterprise Area served Worldwide Headquarters Beijing, China | Industry Construction Key people Chairman: Mr. Yi Jun Founded 1957 | |
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Owner Central People's Government Subsidiaries China State Construction Engineering Corporation Limited (56.26%) Parent organization State-owned Assets Supervision and Administration Commission of the State Council | ||
China state construction engineering corporation ltd
The China State Construction Engineering Corporation (CSCEC) (Chinese: 中国建筑工程总公司) is a Chinese construction company ranked the 3rd largest in the world (1st according to International Construction) and the 20th largest general contractor in terms of overseas sales.
Contents
- China state construction engineering corporation ltd
- Yu tao president ceo of china state construction engineering corporation me llc
- Corporate Structure
- History
- Projects
- Subsidiaries
- References
Most of the assets of CSCEC was now floated in the stock exchange as China State Construction Engineering Corporation Limited (CSCECL), CSCEC retained some assets such as schools and hospitals, as well as the stake in China Construction International Corporation (Chinese: 中国对外建设总公司) which was not able to be transferred. Thus, CSCEC granted the listed company supervising rights.
Yu tao president ceo of china state construction engineering corporation me llc
Corporate Structure
The CSCEC has numerous branches or subsidiaries. It is divided into five main divisions and twelve traditional core business areas, including eight Group's engineering offices and four Design Institutes, as well as its own national research laboratory. The main business units of the group are planning and design, project development, equipment leasing, trade, construction and facilities management.
Its subsidiary and listed company, China State Construction Engineering Corporation Limited (CSCECL) (Chinese: 中国建筑股份有限公司) (SSE: 601668), was established in 2007. It was listed on the Shanghai Stock Exchange in 2009 with its IPO price at RMB$4.18 per share. The shares closed at RMB$6.53, 56% higher than its IPO price, at the first trading day. It was the world's biggest IPO in 2009, raising the capital of US$7.3 billion.
History
The CSCEC was founded in 1957 as a state company. Early on the country had an international profile building heavy industry and infrastructure in Asia, Africa, and the Middle East. The predecessor company opened its first overseas office in Kuwait in the late 1970s. The company broke from its regionally confined work pattern when it entered the U.S. market in 1985, opening an office in Atlanta. The U.S. subsidiary began by building housing developments with joint venture partners before undertaking its first sole development, Lantana Lakes, a 107-acre, $27 million complex of 42 homes, in 1987 in Jacksonville, Florida.
With the encouragement of the Chinese government and financing assistance from the Export-Import Bank of China, CSCEC has taken increasingly bold steps as a builder and investor of overseas projects. In 2011, the going abroad trend hit a new high when Baha Mar Resorts, a $3.4 billion casino and resort built and partially owned by CSCEC, opened after "extremely aggressive" efforts by the company to link with the Bahamas developer that started the project. It was the largest construction project undertaken by a Chinese company outside of China.
The China State Construction Engineering Corporation is also constructing the new Athletics and Football Stadium in Grenada.