Shanghai Construction (Group) Corporation (SCG) is a

Chinese Chinese can refer to: * Something related to China * Chinese people, people of Chinese nationality, citizenship, and/or ethnicity **''Zhonghua minzu'', the supra-ethnic concept of the Chinese nation ** List of ethnic groups in China, people of ...

construction and engineering company, ranked as the 16th largest construction company in the world based on 2011 revenues. The group's listed arm Shanghai Construction Group Co., Ltd. (, ), was ranked at 1,096th on ''Forbes'' Global 2000 List, with a market cap of US$5.5 billion (as of May 2017). The listed company was a constituent of SSE 180 Index and its sub-index SSE MidCap Index.

History

In the 1990s the company underwent fast-paced growth as the home city of Shanghai was finally allowed to join in the reform and growth sweeping China. The city became a "builder's dream" and SCG benefited from the pent up zeal for projects with revenue climbing up 30% annually. As the hometown builder, SCG is responsible for many of the landmarks of Shanghai including

Shanghai Tower Shanghai Tower () is a 128-story, megatall skyscraper in Lujiazui, Pudong, Shanghai.

International projects

SCG undertakes overseas construction projects and mining in

Eritrea Eritrea ( ; ti, ኤርትራ, Ertra, ; ar, إرتريا, ʾIritriyā), officially the State of Eritrea, is a country in the Horn of Africa region of Eastern Africa, with its capital and largest city at Asmara. It is bordered by Ethiopia ...

. It has an international focused subsidiary, the Shanghai (Group) Corporation for Foreign Economic & Technological Cooperation (SEFCO Group). The company's construction of a five star hotel in Cairo despite local political instability was cited by the ''New York Times'' in 2012 as an example of the endurance Chinese companies had in their bid to establish operations in Egypt. The SEFCO Group, a subsidiary of the company, acquired a 60% share in an Eritrean gold mine for $80 million at the end of 2011. In February 2014, Shanghai Construction Group was awarded a contract for a sewage tunnelling project in Edmonton, Canada. The $11-million bid marked the first time that a Chinese firm had done tunnelling work in North America. In 2014, the company was also contracted by the Tanzanian Ministry of Defence and National Service to construct 12,000 housing units for the Tanzanian Peoples’ Defence Force (TPDF) in a project financed by a $550m loan from the

Exim Bank of China The Export–Import Bank of China (Chexim - China Exim Bank) () is one of two institutional banks in China chartered to implement the state policies in industry, foreign trade, economy, and foreign aid to other developing countries, and provi ...

. Through an American subsidiary, the Group bought the

Hyatt Regency Hyatt Hotels Corporation, commonly known as Hyatt Hotels & Resorts, is an American multinational hospitality company headquartered in the Riverside Plaza area of Chicago that manages and franchises luxury and business hotels, resorts, and vacat ...

Orange County hotel for $137 million in 2015, following a trend in which Chinese state owned construction firms are increasingly investing in overseas real estate.

History

International projects

Footnotes

References

See also