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Xiangyu Dredging Announcesthe Signing of Nanshan Contracts for Providing Reclamation Dredging Services

Date£º23/9/2012 10:37:34 Popularity£º

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Provision of dredging service in Shangdong
A recognition of project quality   A progression in market share

Xiangyu Dredging Holdings Limitedis pleased to announce the wholly owned subsidiary Jiangsu Xiangyu Port Construction Company Limited (¡°Jiangsu Xiangyu¡±) has enter into a contractual agreement with Longkou City Nanshan Western Coastline Artificial Island Construction and Development Limited (¡°the Client¡±) for the provision of reclamation dredging service in connection with a reclamation project at Long Port Development Area of Longkou City. The estimated total contract sum is approximately RMB250 million.

The work site is located at Shandong Province, serving as a supplemental contractual project of the previously signed reclamation project at Long Port Development Area of Longkou City. The project is expected to be completed by late 2014, with an estimated total contract sum of approximately RMB250 million (equivalent to approximately HK$310 million).

Xiangyu Dredging released the 2012 interim results last month. As of 30 June 2012, the realized revenue was increased to RMB482.4 million. The Board resolved to pay an interim dividend of HK 2 cents per share.

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