On November 5, 2019, Shanxi Provincial State-owned Assets Supervision and Administration Commission announced heavy news that Shanxi Construction Investment Group and CREC signed a cooperation framework agreement during the Taiyuan Energy Low Carbon Development Forum, intending to sell 51% of the controlling stake, and the amount of investment will reach 7 billion yuan. about. This means that once the acquisition is completed, CREC will become the controlling shareholder of the Shanxi Construction Investment Group and the Shanxi Construction Investment Group will become a holding subsidiary of CREC.

Shanxi Construction Investment Group is the largest comprehensive state-owned investment and construction group company in Shanxi Province. It is headquartered in Taiyuan City, Shanxi Province, and completed the company reform on September 20, 2017. Shanxi Construction Investment Group is a top 500 Chinese enterprise, a top 80 Chinese contractor and a top 200 Chinese construction industry competitiveness company. It owns 11 buildings, 3 municipal utilities, 1 petrochemical industry and 11 engineering construction general contracting qualifications. 11 industry-level design qualifications, more than 130 general contracting and professional contracting level 1 qualifications.

Shanxi Construction Investment Group has architectural research and design, construction, equipment installation, architectural decoration, road and bridge construction, construction machinery manufacturing, building component production, real estate development, engineering supervision, material supply, equipment rental, construction technology development and technical education and training. Comprehensive strength, able to independently contract large-scale high-end projects at home and abroad, and implement BOT, EPC, PPP model construction projects. And has won more than 40 national awards for the highest quality of the project "Luban Award".

Shanxi Jiantou achieved operating income of 48.396 billion yuan and net profit of 1.244 billion yuan in 2018. As of the end of 2018, the total assets were 72.062 billion yuan and the net assets were 14.699 billion yuan. Today, Shanxi Construction Investment Group has signed a cooperation framework agreement with CREC, which plans to sell 51% of the controlling stake, and the amount of investment will reach 7 billion yuan.

CREC is one of the largest construction companies in China and currently has a construction enterprise group in Taiyuan, Shanxi. After CREC acquired the Shanxi Construction Investment Group, it has two major construction enterprise groups in Shanxi, and its regional strength is further highlighted. I wish this heavyweight merger an early success. Editor / Du Dongmei