Company: China State Engineering Co
Designation: Middle East CEO
China State Engineering Co (CSCEC) is the world’s third-biggest contracting company behind China Railway Corp and China Railway Engineering, but is more active than its compatriots in the Middle East.
Last month, the firm picked up a contract to build bridges at Al Wasl Road and Jumeirah Road to facilitate the $544mn Dubai Canal scheme, extending the existing canal from Business Bay out to the Arabian Gulf.
At Dubai’s Palm Jumeirah, it has also been busy with its first major real estate investment in the region – the $1bn Palm Viceroy Hotel. CSCEC is also working on the HVAC package for the $3bn Midfield Terminal Building project at Abu Dhabi International Airport.
In China, the firm has been responsible for developing huge swathes of affordable housing from scratch, and this is a market that Middle East CEO Yu Tao wants the firm to be able to deliver in the GCC.
It had carried out some of this work in Libya prior to the Arab Spring and in China has a 10% market share, having delivered over 130mn homes.
This has involved the firm taking control of every aspect of project delivery from masterplanning through to detailed design, construction and maintenance of schemes for 20-30 year periods.
“We like this kind of arrangement because it is a very high threshold,” Tao recently told Construction Week. “That really rates your ability – not just for so-called construction but for township planning, financial arrangement and a very good ability to sell.”
CSCEC employs around 5,000 people in the region and 2mn people worldwide. In 2012, it chalked up revenues of $81.6bn.