Chinese firm interested in ‘investing up to $2 billion in UAE projects’
Contracting companies Future Metro and China Gezhouba Group International Engineering Co. (CGGC) recently signed a strategic alliance agreement to form what was billed as “a regional power house in construction alliances.”
“This strategic alliance will undertake many megaprojects in the UAE, in line with the construction uptake leading up to Expo 2020. CGGC have the interest of investing up to $2 billion in UAE projects,” a statement said.
Abdul Hamid Moukayed, chairman of electro-mechanical specialist Future Metro, and Li Ke, branch manager of CGGC, represented the two companies at the signing ceremony.
The deal was “in response to the UAE’s planned launch of a series of major construction projects in the fields of energy, ports, (mixed-use) developments and infrastructure.”
Future Metro, which has projects within the governmental and commercial sector, recently secured a contract for the Royal Atlantis residence project.
CGGC has worked on megaprojects in mainland China and abroad, and has over 40,000 employees.