Feb 6 2010
Boyuan Construction Group, Inc., (TSX-V: BOY & BOY.DB) a fast-growing construction company in China of commercial, residential and municipal infrastructure projects, announced today that it has been awarded a contract valued at US $18.1 million to develop a 32-storey, 99,000 square meter residential building in the city of Weifang, in China's Shandong province. The project is expected to be completed by the second quarter of 2011.
"Shandong has emerged as a market with significant potential, effectively positioning us for continued growth in 2010 and beyond," said Mr. Cai Liang Shou, Chairman of Boyuan Construction Group. "While commercial projects will be our primary focus, today's contract win demonstrates that the region also provides opportunities to leverage our experience and reputation with residential projects."
Boyuan has signed four major contracts in Shandong since entering the market in September, 2009. With today's contract award, Boyuan's aggregate value of contracts signed thus far in Shandong is US $73.7 million
Shandong is one of China's most economically diversified provinces with high concentrations of manufacturing as well as oil and gas production activities. Weifang, one of Shandong's principal cities, has a population of 8.5 million people.
Source: http://www.boyuangroup.com/