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Power Construction of China Secures 8.93-Billion-Yuan Iraq Water Transmission Contract

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Power Construction of China (SHA:601669) subsidiary Sinohydro Bureau 5 signed an about 8.93-billion-yuan subcontract with Iraq's Rida Co. for the Basra seawater desalination project's water transmission system.

The project features a 1-million-cubic-meter daily capacity system with 240 kilometers of pipelines, one main pump station and nine receiving stations in Basra Governorate, according to a Thursday filing with the Shanghai bourse.

The timeline includes six months of limited commencement followed by a 1,350-day construction period, plus a 24-month defect liability period.

Shares of the engineering construction company rose 1% in recent trade.

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