CSCEC built the Macau Tower, which was inaugurated in 2001
The China State Construction Engineering Corporation (CSCEC), one of China’s largest construction companies, has started preparing to open an office in Portugal.
According to weekly newspaper Macau Business, the CSCEC’s objective is to create conditions to participate in infrastructure development projects in Portugal.
The Macau weekly reported that in Portugal the company will be named CSCEC -China Construction Portugal. At the end of this month a delegation from the Chinese company will go to Portugal to deal with the process of installing the office in Lisbon.
Macau Business said that the company’s managers will be staff currently based in Macau and Hong Kong.
CSCEC built the Macau Tower, which was inaugurated in 2001, and is linked to a number of construction projects of the Macau government, namely the future light railway, and the private sector with the Galaxy, Wynn, MGM and City of Dreams casino groups and hotel complexes. CSCEC joins an already large group of Chinese companies present in Portugal.
China Three Gorges has a stake in Portuguese power company EDP, Fosun has a stake in teh country’s largest private bank BCP, insurer Fidelidade and healthcare provider Luz Saúde, State Grid has a stake in power grid company REN and the HNA group has a stake in national airline TAP. CEFC China Energy has expressed interest in mutual bank Montepio’s insurance arm and in the purchase of Partex, the oil business of the Calouste Gulbenkian Foundation. MDT/Macauhub
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