Construction Frontline
China Road and Bridge plans to invest 207 million yuan in Chile project
Seetao 2021-01-02 17:20
  • China Road and Bridge cultivates core competitiveness and strives to become a leading international global contractor
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For many years, China Road & Bridge has mainly engaged in overseas business, and its main target has been around the world. On December 30, 2020, China Communications Construction issued an announcement stating that the 43rd meeting of the company's fourth board of directors reviewed and approved the "Proposal on China Road and Bridge Investment in the Concession Project of a Hospital in Maule Region, Chile".

It was agreed that the company's subsidiary China Road and Bridge Engineering Co., Ltd. and its controlling Spanish company Grupo Puentes will establish a project company in Chile with a 67%: 33% share ratio, and invest in the concession project of the Maule region hospital in Chile.

The total investment of the project is about 8.49 million Chilean UF (about 314 million U.S. dollars, about 2.054 billion yuan). Among them, the capital contribution of China Road and Bridge does not exceed 851,000 Chilean UF (about 31.58 million U.S. dollars, about 207 million yuan), and the rest is contributed by Spanish company Grupo Puentes. The actual amount of funds contributed is adjusted at the current US dollar exchange rate against Chile's UF. China Road and Bridge is self-financing.

As an important implementer of the Belt and Road Initiative, China Road and Bridge, the Maule Region Hospital of Chile is of great significance to establish a good corporate image and increase influence. Editor/Sang Xiaomei

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