China Railway Construction Corporation Limited

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Not to be confused with China Railway Engineering Corporation, another railway infrastructure enterprise in China.

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"China Railway Construction Corporation" redirects here. It is not to be confused with the holding company.
China Railway Construction Corporation Limited
中国铁建股份有限公司
Public
Traded as SEHK: 1186
SSE: 601186
Industry Construction
Founded 1948
1990 (holding company)[1]
2007 (listed company)[1]
Headquarters Beijing, China
Area served
 Worldwide
Key people
 Chairman: Fengchao Meng
Products Railways
Services Railway infrastructure
Revenue CN¥592 billion (2014)[2]
CN¥14 billion (2014)[2]
CN¥12 billion (2014) [2]
Owner Chinese Government
General Public
Number of employees
 249,624 (2014) [2]
Parent China Railway Construction Corporation (61.3%)
Subsidiaries CCECC (100%)
Website China Railway Construction Corporation Ltd.
China Railway Construction Corporation Limited
Simplified Chinese 中国铁建股份有限公司
Traditional Chinese 中國鐵建股份有限公司

China Railway Construction Corporation Limited (abbreviated CRCC) is a state-owned construction enterprise that is the second largest construction and engineering company in the world by revenue in 2014[3] and second highest in accounts payable by market cap as of 2015.[4]

The limited company was incorporated in 2007 in order to float the assets of "China Railway Construction Corporation" [Group] (CRCCG, simplified Chinese: 中国铁道建筑总公司; traditional Chinese: 中國鐵道建築總公司, or the holding company) in Shanghai and Hong Kong stock exchange.

Corporate structure

CRCC is under the supervision of the State Council of the People's Republic of China. Since February 2008, A shares and H shares of CRCC are listed on the Shanghai and Hong Kong stock exchanges.

The financial report of the parent company (holding company) is not disclosed. As both parent and subsidiary share the same English name (they have different names in Chinese), the business activities of the holding company was often incorrectly mixed up with the publicly floated limited liability subsidiary by the media.

Subsidiaries

  • China Railway Bureau Groups numbered 11 through 25 (the Bureau Groups numbering 1 through 10 belong to competitor China Railway Engineering Corporation)
    • China Railway Construction Bridge Engineering Bureau Group Co., Ltd. (former 13th Bureau)
  • China Civil Engineering Construction Corporation (CCECC)
  • China Railway Construction Group Ltd.
  • China Railway Electrification Bureau Group Co., Ltd.
  • China Railway Real Estate Group Co., Ltd.
  • China Railway Goods and Materials Co., Ltd.
  • Kunming China Railway Large Maintenance Machinery Co., Ltd.
  • China Railway Construction Investment Co., Ltd.
  • CRCC Finance Company Limited
  • China Railway Urban Construction Group Co., Ltd.

History

Founding

Formerly the railway arm of the People's Liberation Army (found 1948 and became part of Ministry of Railways from 1982). Along with China Railway Engineering Corporation, both railway construction super conglomerates were under the Ministry until 2000.

In 2003, China Civil Engineering Construction Corporation, another former entity of Ministry of Railways, was assigned to China Railway Construction Corporation as its subsidiary.

IPO

In preparation for listing, China Railway Construction Corporation Limited was incorporated in 2007 as a limited company which received most of the assets of the parent company.[5] 5 Build–operate–transfer projects were not included, namely Chongqing Tiefa Suiyu Highway, Nanjing Yangtze River Tunnel, Beijing Tongda Jingcheng Highway, Xianyang Zhongtie Road and Bridge and Guangdong Chaojie Highway. Later on in 2015 CRCC bought Chongqing Tiefa Suiyu Highway from the parent company, while 20% was retained by Chongqing Expressway Co., Ltd.[6]

The company premiered on the Shanghai and Hong Kong in February 2008, raising USD 5.7 billion, making the second largest IPO of that year. The performance was poorer than expected because of poor investment atmosphere from United States subprime mortgage crisis and China's economic macro-control.

International markets

CRCC is dedicated to becoming a global construction company. The effort to achieve this status was apparent in the 2000s when by end of the decade, the company had 209 projects in 35 countries, mostly in Africa.[7] Its five major overseas markets then were Algeria, Nigeria, Libya, Angola and Saudi Arabia.

In the succeeding decade, CRCC has branched to more overseas markets and moved up the value chain into overseas high speed rail construction. The company's work in new markets seemed to gather speed in Europe with the announcement of a deal to construct a stadium for F.C. Internazionale Milano as part of an acquisition by a Chinese investor in the club but the acquisition did not go through and so apparently the stadium deal tied to it.[8][9]

Projects

Domestic

CRCC has built much of the transportation infrastructure in China including high speed rail, subways, and expressways.

Asia

Middle East and North Africa

Africa

  • Angola Angola CRCC built a 1344 km railway line in Angola that opened in 2015 for a contract value of $1.83 bn.[16]
  • Mali Mali CRCC signed a $1.5 bn deal with the government of Mali to improve its railway system. [17]
  • Nigeria Nigeria The China Civil Engineering Construction Corporation unit signed a $3.5bn contract with the Ogun State in April 2015 to construct a railway line through the state.
  • Senegal Senegal CRCC signed a $1.26 bn deal with the government of Senegal for work on 644.6 km of the rail line from Dakar to the Malian border. [18]

Other business areas

The main business activity of the company is in construction and engineering but it is also engaged in real estate development and copper mining.

Corporate social responsibility

A team from CRCC in March 2013 joined in the rescue efforts after the worst building collapse in Tanzanian history. The team was praised by the national newspaper for giving the rescue operation Dar es Salaam focus and an urgent pace.[19]

References

  1. ↑ 1.0 1.1 Lua error in package.lua at line 80: module 'strict' not found.
  2. ↑ 2.0 2.1 2.2 2.3 2014 annual report
  3. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  4. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  5. ↑ 與中鐵建總公司的關係RELATIONSHIP WITH CRCCG Filing in Hong Kong Stock Exchange (Chinese) (English)
  6. ↑ Connected Transaction Acquisition of Equity Interest in Chongqing Tiefa Suiyu
  7. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  8. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  9. ↑ F.C. Internazionale Milano S.p.A. bilancio (financial report and accounts) on 30 June 2013, PDF purchased from Italian C.C.I.A.A.
  10. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  11. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  12. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  13. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  14. ↑ Connected Transaction: Signing of the Agreement on the Arrangement of Matters in Relation to the Mecca Light Rail Project and Resumption of Trading CRCC c/o hkexnews.hk
  15. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  16. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  17. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  18. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  19. ↑ Lua error in package.lua at line 80: module 'strict' not found.

External links

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