China Guizhou Construction Engineering No. 11 Construction Co., Ltd. Signs Contract with China Far East Group to Expand into African Engineering Market

en.Wedoany.com Reported - On October 8, China Guizhou Construction Engineering No. 11 Construction Co., Ltd. and China Far East Group signed a strategic cooperation agreement. The two parties plan to jointly expand into the African infrastructure construction market, focusing on cooperation in water conservancy and hydropower, new infrastructure, and new energy engineering. Under the agreement, the two companies will establish a regular communication mechanism, form a joint working group, advance research on potential projects and business matchmaking, and propose the goal of exploring the establishment of a joint venture international engineering company based on project cooperation over the next five years.

China Far East Group operates in more than ten African countries, including Angola, the Democratic Republic of the Congo, South Africa, Kenya, and Rwanda, covering international engineering construction, real estate development, mineral development, cross-border trade, and industrial park investment and operation. The group will leverage local market channels, project resources, and localized operating networks to participate in information collection, market development, and preliminary coordination for cooperative projects.

Guizhou Construction Engineering No. 11 Construction Co., Ltd.'s business covers housing construction, municipal engineering, water conservancy, electric power, and new energy. The two parties intend to combine the needs of international project development, organize construction technology, engineering management, and business teams to carry out joint work, and further negotiate specific cooperation methods once potential projects are identified. At this stage, the specific project names, host countries, project scales, or contract amounts that the two parties plan to participate in have not yet been announced.

The two parties also plan to conduct joint assessments of local policies, foreign exchange management, labor management, and compliance requirements involved in African engineering projects, and to clarify investment, construction, and risk-sharing arrangements during the advancement of specific projects.