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Chinese Enterprise Signs the First Civil Explosion Project in Saudi Arabia Amounting to USD 780 Million

2019/07/14

永利博

Recently, CGGC signed an EPC + O & M (General Contracting, Operation and Maintenance) cooperation agreement for civil explosion project in Saudi Arabia with an amount of USD 780 million with ASK Group from Saudi Arabia, laying a solid foundation for overseas deployment of its civil explosion business.

It is the first project in the civil explosion sector won by Chinese enterprise in Saudi Arabia, a high-standard, strict and international high-end market, which represents another successful practice in overseas deployment of CGGC’s “non-construction” business and is one of key cooperative results of CGGC’s proactive implementation of the “Belt and Road” Initiative and Saudi Arabia’s Vision 2030.

As the Vision 2030 of Saudi Arabia gradually advances, Saudi Arabia has more large-scale infrastructure projects launched and the Saudi Government clearly proposes to vigorously develop the mining industry, planning to increase the output value of the industry from USD 17 billion to USD 64 billion by 2020, which will continuously drive the substantial and sustained increase in demand for civil explosive products.

The Project is invested by ASK Group, a local investor, with CGGC as the EPC contractor for design, procurement, operation and maintenance of the Project. During the process, CGGC made all efforts to drive capital output by applying technical standards. It envisions building a civil explosive production plant with the annual capacity of 50,000 tons in early stage which will be then expanded to 250,000 tons as per the market demands with the vigorous development of the mining and infrastructure sector in Saudi Arabia, thus facilitating the achievement of its “Vision 2030” by improving the civil explosive production capacity

In recent years, CGGC has proactively led non-construction enterprises to go global and further facilitated the overseas deployment of such businesses as civil explosive, environmental protection, water affairs and cement, while accelerating the transformation and upgrade of construction enterprises. China Gezhouba Group Explosive Co., Ltd., China’s leading large civil explosive company that integrates scientific research, production, sales and blasting services in one, is currently China’s largest explosive enterprise, with its explosive production capacity ranking among the top three in China and businesses distributed across the globe.

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