Railway No 10 Engineering Group further explores Peruvian market
(chinadaily.com.cn)| Updated : 2020-03-02Print Print
A working team of Railway No 10 Engineering Group in Peru [Photo provided to chinadaily.com.cn]
China Railway No 10 Engineering Group, based in Jinan, Shandong province, won a bid for a Melgar school reconstruction project, following bids for the two road maintenance projects in Pomabamba and Tacna, Peru, respectively in January.
The three new contracts are worth a total of $115 million and represent a promising development for the company as it expands operations in Latin America.
Peru, with its rich mineral resources, is a great potential partner for Railway No 10 Engineering Group in the fields of mining, infrastructure, and trade.
Since entering the Peruvian market in 2015, the group has made efforts to expand cooperation with the country, improve people's living standards, and further the country's economic development.
In 2019, the group bid for 33 projects, winning 17, and signed $310 million in contracts. The contracts involved the construction and renovation of roads, bridges and hospitals. The group is gradually becoming a major player in Peru's infrastructure industry.
In the near future, the group plans to continue increasing production resources, strive to maintain growth, and improve its quality standards. It is expected to sign $500 million in contracts to further expand its presence in the Peruvian market.