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China CAMC Engineering has been awarded a contract valued at approximately USD 72 million to develop supporting road infrastructure for an airport in Nicaragua’s capital city, Managua. The airport is situated in the northern area of Managua, with construction expected to take 24 months from the start date. The announcement was made by the Beijing-based company yesterday, referencing a deal signed on August 22.
The company indicated that an upfront payment is required for the project. While this advance won’t impact the company’s financial performance immediately, it is expected to have a positive effect over the next two years, pending audit confirmation.
As one of China’s leading international contractors, CAMC Engineering specializes in overseas engineering projects and domestic international bidding initiatives.
Shares of the company dropped 1 percent to CNY 8.94 (approximately USD 1.25) at midday in Shenzhen today.
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