Sinohydro First-Quarter New Contract Value Rises 28.4%

Sinohydro Group Ltd. (601669), China’s biggest builder of hydroelectric dams, reported a 28.4 percent increase in the value of contracts signed in the first quarter.

The contracts totaled 42.8 billion yuan ($7 billion) from January to March, compared with 33.4 billion yuan a year earlier, Sinohydro said today in a statement to the Shanghai stock exchange. About 51 percent of the contracts were in China.

Of those, domestic water and hydroelectric projects were worth 6.43 billion yuan, the Beijing-based company said.

To contact the reporter on this story: Feifei Shen in Beijing at fshen11@bloomberg.net

To contact the editor responsible for this story: Reed Landberg at landberg@bloomberg.net

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