CITIC Construction is an integrated service provider of the engineering construction. With key markets in Africa, Latin America and countries along the Belt and Road, the company is currently expanding its operations in developed markets such as Great Britain and Mainland China. In addition to its established foothold in infrastructure, housing and industrial construction, the company is developing its business in the areas of resources, energy, agriculture and environmental protection.
Leveraging CITIC’s vast resources and network, CITIC Construction not only provides EPC services, but also a suite of value-added, integrated services such as project planning, design, investment, financing, management, procurement, operation and maintenance. The range of these services provides a significant competitive advantage in developing countries.
Through the successful delivery of large-scale projects important to the lives of the communities in which it operates, the company has established a strong brand and reputation. It is widely regarded today as a highly successful Chinese enterprise.
Year in review
In 2016, CITIC Construction recorded revenue of RMB7,739 million and a net profit attributable to shareholders of RMB1,184 million. New projects have not yet contributed to revenue or profit as they are either recently signed or still at a preliminary stage, a major reason for the company’s revenue and profit decrease for the year.
Deepening economic and social challenges in Africa and Latin America, both of which are established markets for CITIC Construction, increasingly had an impact on the business in 2016. However, CITIC Construction responded to this changing market context by exploring new opportunities emerging from China’s Belt and Road initiative. It has successfully signed a road rehabilitation project in Kazakhstan. As of early 2017, it is approaching completion of an automobile production line in Belarus for Chinese automaker Geely. The company is also aggressively pursuing opportunities at home, as demonstrated by its recent successful bids for contracting on PPP projects in Yunnan and Guizhou.
By the end of the year, the total value of signed contracts by CITIC Construction was RMB36.2 billion, of which RMB204.2 billion was contributed by new contracts signed during the year.