Greater China

Bridge building exercise for Sainty Marine

Shanghai: Sainty Marine, arguably China’s most diversified shipbuilder, has announced on Thursday that it has won a bid to construct a bridge on Huai River in Huainan city of Anhui province.

According to agreement, the bridge will be 10.12km long and is schedule to be completed in three years; the contract value of the project is RMB1.65bn.

In the meantime, Sainty Marine announced its third quarter results, in the first nine months of this year, the company achieved sale revenue of RMB1.66bn, a 15% drop year-on-year, and net profit of RMB56.7m, a 65% drop year-on-year.

The contract value of RMB1.65bn accounts for 63% of the company’s overall revenue in 2011, and Sainty Marine said the contract will have a positive influence on the company’s business performance. [26/10/12]

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