China State Construction Engineering

China State Construction Engineering
The China State Construction Engineering Corporation (CSCEC) is the largest construction company in the world by revenue and the 8th largest general contractor in terms of overseas sales, as of 2020.
While most of the assets of CSCEC were 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 which was not able to be transferred. Thus, CSCEC granted the listed company supervising rights.
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), 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.
In 2009, the company was blacklisted for six years by the World Bank for collusion in the bidding process for the Philippines National Roads Improvement and Management Project.
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.
In 2020, after the coronavirus outbreak, CSCEC built two hospitals in Wuhan in the span of 10 to 12 days. The 1,000-bed Huoshenshan hospital was finished on February 3, while the 1,600-bed hospital Leishenshan was finished on February 5.
On 28 August 2020, the United States Department of Defense released the names of companies with ties to the People's Liberation Army operating directly or indirectly in the United States. China State Construction Group Co., Ltd. was included on the list. In November 2020, Donald Trump issued an executive order prohibiting any American company or individual from owning shares in companies that the United States Department of Defense has listed as having links to the People's Liberation Army, which included China State Construction Group.
Projects
Participated in constructing Daxing International Airport
Construction of the Great Mosque of Algiers ($1.5 billion)
Realization of the new university town of Constantine ($520 million)
New extension of Algiers airport ($550 million)
Construction of the proposed new capital of Egypt
Cairo International Conference Center, Egypt
AU Conference Center and Office Complex, Ethiopia
Commercial Bank of Ethiopia Headquarters, Ethiopia
Addis Ababa National Stadium, Ethiopia
Renovation of the Alexander Hamilton Bridge, New York City, New York
Ventilation shafts for the 7 Subway Extension, New York City, New York
Sukh Chayn Gardens Housing Estate is a gated community in the suburbs of Lahore, Pakistan.
Federation Tower, Tower A (Ostturm), Moscow: Europe's highest skyscraper
Shanghai World Financial Center, Shanghai
Beijing National Aquatics Centre ("Water Cube", water cube): the new Chinese national Swimmcenter in Beijing (draft planning in community with the Australian company PTW Architects, the office Ove Arup, and China Construction Design International (CCDI)).
Shun Hing Square, Shenzhen
Missile test center of the Shenzhou Space Center (one of the three largest Chinese projects of the eighth five-year plan, won the 1st prize for national scientific and technical progress)
Airport Passenger Terminal Hong Kong Chek Lap Kok
One Thousand Museum, Miami, United States
Leeza SOHO, Beijing, China
Main administration building of the Bank of China, Hong Kong
Haier companies building (refrigerator manufacturer), South Carolina, United States
Nanyang Technological University, Singapore
National Athletics & Football Stadium, Grenada
Enlargement of the Australian Embassy, Beijing
Embassy of Malaysia, Beijing
New German Embassy, Beijing
Sky City, Changsha
Villa at the Consulate General in China, New York City, United States
Sheraton Hotel, Pine Club, Algiers, Algeria
Marriott Hotel, Shanghai
Kempinski Hotel, Beijing
Xianyang International Airport, Xi'an
Baiyun International Airport, Guangzhou
Taoxian International Airport, Shenyang
Stadium project Stade des Martyrs, Kinshasa, Zaire
Cricket Stadium, Barbados
Kathmandu-Terai expressway Nepal,($1.2 billion)
Jinnah Stadium, Islamabad, Pakistan
National Geological Information Center, Botswana
Underground water reservoir, Mmankgodi (in Gaborone), Botswana
Gerald Road, Francistown, Botswana
Binh Thuan Roadway Project SM2/SM3, South Saigon, Vietnam
Culasi, Antique-Patnaongon Highway, Panay, Philippines
North irrigation project Jazir, Iraq
New Hindiya Dam, including railway bridge, the Euphrates, Iraq
Boukourdane Dam, Algeria
Mae Kuang Dam, Thailand
Rama Bridge, Bangkok, Thailand
21st Century Tower, Shanghai
Arfa Karim Technology Park, Lahore, Pakistan
Lakeville Residences, Malaysia
Burj Qatar, Qatar
Hilton Dhaka, Bangladesh
University hospital of Sfax, Tunisia (since 2016).
M5 Multan-Sukkar Motorways of Pakistan (CPEC)
Trump International Golf Club, Dubai
Medical project in Cambodia ($73.6 million)
Mixed-use real estate development in Australia ($466.8 million)
A major highway in Argentina ($2.13 billion)
Tesla Giga Shanghai, Shanghai
International Trade Center, Dongguan
Rail Transit Control and Commercial Complex, Dongguan
The Exchange 106 tower in Tun Razak Exchange (TRX), Kuala Lumpur
Goldin Finance 117, Tianjin (on hold)
MET 1 Residences @ KL Metropolis, Kuala Lumpur
Urban Village Phase II Phnom Penh, Cambodia
Subsidiaries
China Overseas Land and Investment
China Construction Design International
China State Construction International Holdings
China State Construction Engineering Corp. Middle East LLC.
China State Construction Engineering (M) Sdn. Bhd.|China State Construction Engineering (M) Sdn Bhd
China Construction First Group Corporation Ltd
China Construction Second Engineering Bureau Ltd
China Construction third Engineering Bureau Ltd
China Construction fourth Engineering Division Corp. Ltd
Controversies
Because of the company's continued business with Russia during Russian invasion of Ukraine, China State Construction Engineering is listed among International Sponsors of War by Ukrainian National Agency on Corruption Prevention.
References
External links
China State Construction Engineering Corporation
China State Construction Engineering Corporation Pakistan Branch
Companies in the CSI 100 Index
Companies listed on the Shanghai Stock Exchange
Government-owned companies of China
H shares
Construction and civil engineering companies of China
Companies based in Beijing
Chinese companies established in 1982
Construction and civil engineering companies established in 1982
Chinese companies established in 2007
Construction and civil engineering companies established in 2007