Shanghai Construction Group

Shanghai Construction Group
State owned
Industry Civil engineering
Headquarters Shanghai, China
Website www.scg.com.cn/en/index.html

Shanghai Construction Group (SCG) is a Chinese construction and engineering company, ranked as the 16th largest construction company in the world based on 2011 revenues.[1]

History

The company underwent fast paced growth when in the early 1990s the home city of Shanghai was finally allowed to join in the reform and growth sweeping China.[2] The city became a "builder's dream" and SCG benefited from the pent up zeal for projects with revenue climbing up 30% annually.[2] As the hometown builder, SCG is responsible for many of the landmarks of Shanghai including the under construction Shanghai Tower.[3]

International projects

SCG undertakes overseas construction projects and mining in Eritrea. It has an international focused subsidiary, the Shanghai (Group) Corporation for Foreign Economic & Technological Cooperation (SEFCO Group).[4]

The company's construction of a five star hotel in Cairo despite local political instability was cited by the New York Times in 2012 as an example of the endurance Chinese companies had in their bid to establish operations in Egypt.[5]

The SEFCO Group, a subsidiary of the company, acquired a 60% share in an Eritrean gold mine at the end of 2011.[4]

References

  1. ↑ "The Top 225 International Contractors". Engineering News-Record.
  2. 1 2 Faison, Seth (April 12, 1995). "Shanghai Journal; Free Now to Build, China's Biggest City Binges". New York Times.
  3. ↑ Wu, Ni. "Tallest skyscraper in China reaches over 500m". China Daily.
  4. 1 2 "Shanghai Construction says to acquire Eritrea gold mine". Reuters. December 27, 2011.
  5. ↑ "Chinese Firms Brave Uncertainty in Egypt". New York Times. August 30, 2012.
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