Skip to main content

‘Belt and Road’ Drives Into Argentina with $2 Billion Contract


By Yang Ge

China State Construction Engineering is entering Argentina with a deal to build 538-km highway. Photo: VCG

China State Construction Engineering Corp. (CSCEC) said it has won a $2.13 billion contract to build a major highway in Argentina, answering Beijing’s call for infrastructure specialists to export their skills to other developing markets.

The contract will see the Chinese company build the 538-kilometer (334 miles) highway over five years, using an engineering, procurement and construction arrangement that typically has a single contractor overseeing all the major responsibilities for such large projects, according to an announcement this week on the company’s website (link in Chinese). The contract includes 10 years to operate the project after its completion. 

“The contract’s important components include the road’s design, construction, upgrades and operational maintenance,” CSCEC said. “After its completion, it will become one of the area’s most important highways.”

The project marks CSCEC’s first project in the South American nation, and Argentina’s first such partnership involving a Chinese company, the company said.

CSCEC is one of China’s largest infrastructure builders. It has also been one of the most active in seeking overseas contracts under Beijing’s “Belt and Road” initiative that encourages such development as China’s own infrastructure building slows down after a huge build-out over the last three decades.

Belt and Road originally started out as an initiative calling for such overseas infrastructure development, often with Chinese financing, along countries on the ancient maritime and land-based Silk Roads connecting China and Europe. But more recently the initiative has come to include most developing markets, including ones as far afield as South America.

CSCEC’s similar overseas contract wins this year include a $37 million aviation project in Kenya, a 502 million yuan ($73 million) medical project in Cambodia, and an A$630 million ($466 million) mixed-use real estate development in Australia, according to its website. Other major infrastructure deals have seen China National Chemical Engineering win $3 billion contract for trash incineration in the Democratic Republic of the Congo in May, and Fujian Construction Engineering Group Co. Ltd. win a deal to build a 602 million yuan industrial park in Kenya.

Contact reporter Yang Ge(geyang@caixin.com)


https://www.caixinglobal.com/2018-08-10/belt-and-road-drives-into-argentina-with-2-billion-contract-101313794.html

Comments

Popular posts from this blog

CPEC Jobs in Pakistan, salary details

JOBS...نوکریاں چائنہ کمپنی میںPlease help the deserving persons...Salary:Salary package in China–Pakistan Economic Corridor (CPEC) in these 300,000 jobs shall be on daily wages. The details of the daily wages are as follows;Welder: Rs. 1,700 dailyHeavy Duty Driver: Rs. 1,700 dailyMason: Rs. 1,500 dailyHelper: Rs. 850 dailyElectrician: Rs. 1,700 dailySurveyor: Rs. 2,500 dailySecurity Guard: Rs. 1,600 dailyBulldozer operator: Rs. 2,200 dailyConcrete mixer machine operator: Rs. 2,000 dailyRoller operator: Rs. 2,000 dailySteel fixer: Rs. 2,200 dailyIron Shuttering fixer: Rs. 1,800 dailyAccount clerk: Rs. 2,200 dailyCarpenter: Rs. 1,700 dailyLight duty driver: Rs. 1,700 dailyLabour: Rs. 900 dailyPara Engine mechanic: Rs. 1,700 dailyPipe fitter: Rs. 1,700 dailyStorekeeper: Rs. 1,700 dailyOffice boy: Rs. 1,200 dailyExcavator operator: Rs. 2,200 dailyShovel operator: Rs. 2,200 dailyComputer operator: Rs. 2,200 dailySecurity Supervisor: Rs. 2,200 dailyCook for Chinese food: Rs. 2,000 dailyCook…

Balochistan to establish first medical university

https://www.dawn.com/news/1366135

The Newspaper's Staff CorrespondentOctober 25, 2017QUETTA: The provincial cabinet on Tuesday approved the draft for establishing a medical university in Balochistan.Health minister Mir Rehmat Saleh Baloch made the announcement while speaking at a press conference after a cabinet meeting.“The cabinet has approved the draft of the medical university which would be presented in the current session of the Balochistan Assembly,” he said, adding with the assembly’s approval the Bolan Medical College would be converted into a medical university.Published in Dawn, October 25th, 2017

Germany’s Siemens sets up Belt and Road office in Beijing

https://gbtimes.com/germanys-siemens-sets-up-belt-and-road-office-in-beijing
Germany’s Siemens sets up Belt and Road office in Beijingby Janne Suokas Mar 23, 2018 15:20 TRADEINVESTMENTBELT AND ROAD INITIATIVEGerman industrial and engineering group Siemens will set up a Belt and Road office in Beijing. surberFlickrCC BY 2.0
German industrial and engineering group Siemens will set up an office in Beijing to boost international cooperation under China’s Belt and Road initiative, the company said on Friday.The move will help strengthen Siemens’ cooperation with Chinese and international companies and expand business opportunities brought about by the Belt and Road initiative, according to the company’s statement.The Belt and Road initiative is China’s ambitious project to boost trade and infrastructure investment in more than 65 countries along the ancient Silk Road trade routes from Asia to Europe and Africa.Siemens said it had already partnered with hundreds of Chinese companies in overse…