The Xiang Army of Construction has speeded up its pace of exploring overseas markets, expanding the foreign project contracting to Europe and the US market from traditional Asian and African markets.

According to the Department of Construction of Hunan, newly signed contracts of foreign projects of the whole province amounted to $1.65 billion in the first 8 months of this year, up 350% year on year, the highest record in the same period.

The newly signed projects include projects in Asia, Africa, Europe, America and Oceania, covering various industries, such as agriculture, mechanical engineering, mining, hydro electricity, construction, services, and real estate development industry. Among them, Central South Electric Power Institute contracted for a project to build 5000 suites in Zumara of southwest Libya with a contracted amount of $800 million.

At present, there are 10 construction enterprises in Hunan that are eligible to operate foreign project contracting. 6 establishments including the Eighth Bureau of Water Resource and  Hydro Electricity Engineering has set up branches or offices abroad with the foreign project contracting range gradually expanded to South America, Oceania and Europe from Asia and Africa.

By means of cooperating with Hunan Ruixiang Materials Co Ltd, Changsha Zhongxing Construction Company has engaged in cobalt and copper mining in Congo, which have been used in the mobile phone battery production in China, an output accounting for 80% of that used in mobile phone batteries throughout the whole country.

Source: www.hunan.gov.cn