China CAMC Engineering Co., Ltd. (CAMCE, 002051.SZ) Wednesday announced it signed a contract with Sri Lanka's Ministry of Mahaweli Development and Environment to develop the right bank of Sri Lanka's Maduru Oya.
The contract is valued at 475 million dollars, including building irrigation infrastructure such as new channels and reservoirs and, as well as healthcare centers, education, roads and other public infrastructure in new towns.
The contract value accounts for 39.6 percent of the company's operating income in 2015, and it will have certain effect on its revenue and profits in the next four years.
The project will also help the company to further expand business in water engineering and its market share in Southeast Asia.
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