3 months ago
Stock Market

Partnership with Shenzhen Energy Boosts China Energy Engineering Corp

Investing.com - China Energy Engineering Corp Ltd (HK:3996), a state-owned conglomerate, witnessed a 4.08% surge

Investing.com - China Energy Engineering Corp Ltd (HK:3996), a state-owned conglomerate, witnessed a 4.08% surge in its shares to HK$1.02 on Wednesday morning, after it announced a cooperation deal with Shenzhen Energy Group Co Ltd (SZ:000027), also a state-owned firm.

The two energy companies will work together in areas like clean energy, ecological environmental protection, international cooperation and capital investment.

China Energy has been busy setting up international cooperation deals with countries linked to the Belt and Road Initiative.

The firm announced that its subsidiary, China Gezhouba Group International Engineering Co. Ltd, will have new projects with Kazakhstan Arai-Oil LLP on five cascade hydropower stations earlier this month.

Last month, the Beijing-based firm also signed a contract with the Philippines for the Kaliwa Dam Project, which involves building a 62-meter high dam, among others.