Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

Energy China, Gezhouba Group, and Indonesia Raman Mining Corporation signed the EPC contract for the construction of 2mn mt Indonesian alumina refinery project. 


The project will come up 180km from Pontianak City, the capital of West Kalimantan Province, Indonesia. The contract involves building a new alumina refinery in 33 months. This project is another overseas project by Gezhouba following its Balakot Hydropower Project in Pakistan and the Shaka Ridge Smart City Development Project in Durban, South Africa.


Gezhouba Group is involved in engineering construction, industrial manufacturing, investment operations and has a presence in more than 140 countries.


Gezhouba realized an operating income of CNY112.611bn and deducted non-net profit of CNY3.764, up by 13.08pc in 2020 from the prior year. In the first quarter of this year, the value of newly signed contracts was CNY120.97bn, accounting for 36.66pc of the annual planned new contract value, an increase of 132.74pc from the Q1, 2020. Out of that, the value of newly signed international contracts was CNY38.11bn, accounting for approximately 31.51pc of the total value of newly signed contracts, up by 2.4pc from the prior year.


China Energy Construction plans to absorb and merge Gezhouba through a share swap and issue. Following the merger with China Energy, Gezhouba will terminate its listing. By then, China Energy Construction will become an A+H listed company.


Gezhouba Group has also won several domestic projects such as Shandong Expressway (600350) and Lanzhou High-tech Zone Dinglian Park.

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