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MarketScreener Homepage  >  Equities  >  Shanghai Stock Exchange  >  China State Construction Engineering Corporation Limited    601668   CNE100000F46

CHINA STATE CONSTRUCTION ENGINEERING COR

(601668)
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China State Construction Engineering : Construction America starts superstructure construction on Houston project

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04/30/2020 | 06:04am EDT

China Construction America (CCA), a subsidiary of China State Construction Engineering Corporation (CSCEC), launched the steel structure hoisting work of the Hailiang Texas Copper Manufacturing Plant project on April 21, marking the transition of the project from the preliminary stage of foundation construction to the next phase of superstructure construction.

CCA officially signed the contract for the project in August 2019. Under a design-and-build contract, CCA is responsible for a project that includes 40,000 square meters of manufacturing plant, office space, affiliated buildings, and other facilities.

Detailed preparation for resumption of work

Facing the relentless COVID-19 pandemic, the project's management strictly implemented CSCEC's epidemic prevention measures through a detailed management approach to coordinating tasks and schedules. In February 2020, the project started the construction of the plant as scheduled, and has successively completed the work of road hardening, piling of the plant's superstructure, and concrete pouring. After work and construction were resumed, the project team has been making efforts on epidemic prevention as well as stepping up the effort to complete the foundation construction. On April 14, the first batch of steel structure materials arrived at the project site, and the steel structure hoisting work was successfully launched on April 21.

In order to achieve on-time and quality completion of the steel structure hoisting work amid the COVID-19 outbreak, on-site managers and workers formulated a plan for catching up with the schedule delays in construction. On the one hand, the project's management adjusted the working schedules of the steel structure subcontractor and the foundation structure subcontractor, while at the same time, coordinated with the suppliers on the processing sequence of the construction materials and the delivery time. On the other hand, due to the rainy spring climate in the area, the project team decided to complete the road hardening and reinforcement work as well as install the temporary construction facilities ahead of schedule.

Collective efforts to ensure epidemic prevention

Resuming work on the project construction site entails the implementation of epidemic prevention measures on a daily routine. In accordance with CCA's COVID-19 work resumption guidelines, the project team of the Houston Hailiang Texas Copper Manufacturing Plant project launched a set of scientific epidemic prevention and control measures tailor-made to the conditions on the construction site. These included practicing thorough cleaning and disinfection of the office areas and the construction sites, providing frontline workers with adequate epidemic prevention materials through CCA's shared service center, as well as requiring all staff to wear masks on the work sites.

Since work and construction was resumed on site, the project's management has taken strict measures to ensure epidemic prevention and control-staggering shift schedules, taking temperature measurements at the entrance, maintaining social distancing, as well as monitoring and keeping records on the health information of all workers and their close contacts. CCA has always put the health and safety of its employees as the top priority, and it took flexible measures to ensure successful resumption of work and construction.

The project team set up a communication group to share the latest COVID-19 news and epidemic prevention information through multiple online and offline platforms, and to help workers to maintain a positive mindset in regard to COVID-19. In addition, the project's management launched an joint action mechanism of epidemic prevention with local subcontractors and suppliers. By distributing epidemic prevention guidelines, raising awareness of the pandemic outside the construction sites, and enforcing strict on-site management on visitors from a third party, the project's management has substantially improved the overall epidemic prevention capabilities of the project.

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China Construction America starts superstructure construction on Houston project

CSCEC holds operational analysis meeting of Q1 2020

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Contact:

Tel: +86 (10) 86498181

(C) 2020 Electronic News Publishing, source ENP Newswire

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Financials
Sales 2020 1 602 B 227 B 227 B
Net income 2020 45 819 M 6 486 M 6 486 M
Net Debt 2020 172 B 24 368 M 24 368 M
P/E ratio 2020 4,55x
Yield 2020 4,38%
Capitalization 205 B 29 020 M 29 048 M
EV / Sales 2019
EV / Sales 2020 0,24x
Nbr of Employees 335 038
Free-Float 34,2%
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Number of Analysts 12
Average target price 7,63 CNY
Last Close Price 4,89 CNY
Spread / Highest target 100%
Spread / Average Target 56,0%
Spread / Lowest Target 20,7%
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Xue Xuan Zheng President
Qing Guan Chairman & Deputy General Manager
Lie Yang Gao Chairman-Supervisory Board
Yun Lin Wang Chief Financial Officer & Vice President
Jian Bo Li Member-Supervisory Board
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