China Machinery to Build Water Plant in Republic of CongoJoshua Fellman
China Machinery Engineering Corp., a state-controlled contractor with projects in countries including Nigeria and Serbia, won a $246.2 million contract to build a water-treatment plant in the Republic of Congo.
The 36-month turnkey project calls for the Beijing-based company to build a drinking-water plant in Pointe-Noire with production capacity of 5,250 cubic meters an hour, according to a Hong Kong stock exchange filing yesterday.
China Machinery gained 2.1 percent to close at HK$5.32 in Hong Kong trading yesterday, before the announcement. The stock has slumped 15 percent this year, compared with a 7.4 percent decline in the city’s benchmark Hang Seng Index.