China’s CCTEB part­ners with Tulip In­frat­ech

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China’s lead­ing con­struc­tion firm CCTEB in part­ner­ship with realty com­pany Tulip In­frat­ech will de­velop in­fra­struc­ture and real-es­tate projects in In­dia as it sees huge op­por­tu­ni­ties in these sec­tors. Tulip In­frat­ech and China Con­struc­tion Third En­gi­neer­ing Bureau Co Ltd (CCTEB) will jointly bid and de­velop projects in the coun­try and tar­get an or­der book of about Rs 20,000 crore in the next 2-3 years. The two com­pa­nies will form a con­sor­tium to bid for such projects. The joint ven­ture is also in talks with local de­vel­op­ers for hous­ing project. CCTEB’S Chief Rep­re­sen­ta­tive In­dia Branch Cheng Chim­ing said the com­pany’s global turnover stood at $22.5 bil­lion in 2016, of which 90 per cent came from China and the rest from eight for­eign coun­tries where it is present. He said the com­pany has al­ready formed CCTEB In­dia Pvt Ltd to en­ter the In­dian mar­ket. Un­der the co­op­er­a­tion agree­ment, Tulip and CCTEB would work jointly and ex­ploit their re­spec­tive ad­van­tages of project plan­ning, chan­nel part­ner, fund rais­ing, project in­vest­ment, project man­age­ment and con­struc­tion and con­struc­tion tech­nolo­gies.

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