CCCC Shanghai Inks Uruguay LNG Dredging Contract

On June 27, CCCC Shanghai Dredging Co., Ltd. signed the Uruguay LNG dredging contract with Gas Sayago. With a construction period of 18 months and a total contract value of some 40 million U.S. dollars, the project is scheduled to commence on August 1, 2013.

Gas Sayago is a joint venture established by Uruguay’s two state-owned energy companies UTE and ANCAP with a 50 percent stake each with the aim of building Uruguay’s first national terminal of LNG storage and re-gasification. The project involves the dredging works and re-gasification terminal services.

The company won the bid for the dredging works. Located five kilometers west of Port of Montevideo, with quantities of over 17 million cubic meters, the works involves basin and channel dredging.

The signing of the project has laid the groundwork for the company to better participate in Uruguay’s infrastructural construction and is of positive significance to further developing the Latin American market and consolidating the traditional friendship between China and Uruguay.

[mappress]

Press Release, July 5, 2013