China Railway Group Limited

Not to be confused with China Railway Construction Corporation Limited, another railway infrastructure enterprise in China.
Not to be confused with China Railway, the national railway operator in China.
China Railway Group Limited
CREC
Public
Traded as SEHK: 390
SSE: 601390
Industry Construction
Founded 2007
Headquarters Beijing, China
Area served
 Worldwide
Key people
 Chairman: Li Changjin
Products Railways, Highways, Installation, Design, Survey, Manufacturing, Real Estate, Resources, Investments
Revenue Increase US$ 105.93 billion (2015)
Total assets Increase US$ 110.10 billion (2015)[1]
Owner China Railway Engineering Corporation
Abu Dhabi Investment Authority (0.1%)[2]
Website www.crec.cn
China Railway Group Limited
Simplified Chinese 中国中铁股份有限公司
Traditional Chinese 中國中鐵股份有限公司
Literal meaning China Railway Group Joint-Stock Limited Company

China Railway Group Limited known as CREC (the acronym of it predecessor and parent company China Railway Engineering Corporation) is a Chinese construction company which floats in Shanghai and Hong Kong Stock Exchange. The major shareholders of the company is the state owned China Railway Engineering Corporation (CRECG).

By revenue, CREC is the largest construction company in the world in the 2015 Engineering News-Record "Top 225 Global Contractors".[3] In 2016, CRECG ranks in the 57st place among Fortune Global 500 Enterprises[4] and the 7th place among Top 500 Chinese Enterprises.

Business areas

CREC holds a large share of the Chinese construction market and participates in many large-scale infrastructure projects overseas (especially in countries in the Southeast Asia and Africa). In addition to the core business of construction, the company does business in surveying and designing, installation, manufacturing, R&D, technical consulting, capital management as well as international economic and trade activities.

History

In November 2007, CREC announced that it would be listing A shares and H shares on the Shanghai and Hong Kong respectively. The IPO price of A share ranged from 4 to 4.8 Chinese yuan while that of H share ranged from 5.03 to 5.78 Hong Kong dollar. CREC joined the Hang Seng China Enterprises Index from 10 March 2008.[5]

In support of a cross country railway building boom in Venezuela, CREC began construction in 2009 of the Anaco-Tinaco railroad, an 800 million USD project to building a 471 km high speed railway line through the agriculture belt.[6]

This company appeared to break new ground in the European Union in 2009 when the COVEC subsidiary along with two Chinese partners were awarded the tender to construct two parts of the A2 highway in Poland.[7] The project began well in the design and preparation stages with COVEC demonstrating "technical acumen" but work ran aground at later stages because of mismanagement within a tight regulatory framework, ending in failure for COVEC and replacement by other contractors.[8]

Subsidiaries

As of 31 December 2014 [2]
CREC received former no.1 to 10 bureau of Ministry of Railways, which became
CREC also had the following subsidiaries
former design bureau
non-wholly owned subsidiaries that have material non-controlling interests

References

This article is issued from Wikipedia - version of the 11/3/2016. The text is available under the Creative Commons Attribution/Share Alike but additional terms may apply for the media files.