China Communication Construction sets up new branch

China Communication Construction Co Ltd on Monday established a southern investment branch in Zhuhai, Guangdong province, where it has invested 38 billion yuan ($6.11 billion) into infrastructure construction projects.

The company, whose primary business is in the construction of transportation infrastructure, dredging and the manufacture of heavy machinery, plans to set up one of its financial centers in Zhuhai’s Hengqin new district to expand its capital and financial business, guide investment into industry projects and promote cooperation between central State-owned enterprises and local governments.

Last July, China Communication Construction won a bid to participate in the Hengqin new district’s municipal infrastructure projects and land developing and planning, using an investment of $6.11 billion.

To strengthen its capital operation abilities, the company increased its financial company’s registered capital to 5 billion yuan.