Initiative to boost infrastructure, industries along route

[email protected] China Post

China Communications Construction Co, one of the country’s biggest infrastructure project providers by market share, will boost its overseas sales revenue to 50 percent of its total by 2035 via the development of the Belt and Road Initiative, diversified operation models, and overseas mergers and acquisitions, according to its chairman.

The company’s global sales accounted for 35 percent of its annual sales revenue last year, due to the rapid growth of business in countries along the Belt and Road Initiative, including Gwadar Port in Pakistan’s Baluchistan region, Sri Lanka’s Colombo International Financial City project and the Mombasa-Nairobi Standard Gauge Railway in Kenya.

Liu Qitao, company chairman, said the tangible results of the development of the Belt and Road Initiative will generate new growth momentum this year. That will boost revenue growth for both global and Chinese companies, while improving their ability to conduct big-ticket projects and export excess industrial capacity to economies along the two trading routes.

“For example, the flagship project Gwadar Port is the third-largest deep-water port in Pakistan, a country heavily involved in the Belt and Road Initiative. The harbor will be a strategic stronghold along the China-Pakistan Economic Corridor,” Liu said.

The port now operates three multifunctional piers with an annual throughput capacity of between 50,000 and 70,000 20-foot equivalent units, as well as bringing 20,000 jobs to locals. It will also serve as a trade gateway for East and Central Asian countries to other parts of the world.

After the completion of the construction, CCCC will also be responsible for a series of follow-up projects, such as the operation of a free-trade zone in Gwadar Port.