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China Energy Engineering Group Co established
Updated: 2011-10-10
On the morning of Sep 29, inauguration of China Energy Engineering Group Co and the meeting on power grid enterprises integration was held in the State-owned Assets Supervision and Administration Commission of the State Council of the People's Republic of China (SASAC).
As approved by the State Council, enterprises under CGGC, China Power Engineering Consulting Group Corporation (CPECC), State Grid Corporation of China (SG) and China Southern Power Grid Co (CSG) engaged in prospecting and design, power engineering, building and maintenance businesses in 15 provinces (municipalities and autonomous regions) were restructured and integrated into a wholly state-owned company—China Energy Engineering Group Co., Ltd. (CEEC) with SASAC performing the responsibilities of investor.
The company has a registered capital of 26 billion yuan ($4.28 billion) and 160,000 employees, and achieved business proceeds and total assets valued 100 billion yuan ($16.47 billion) by the end of 2010.
CEEC after restructuring and integration will be a giant in energy engineering sector in China and the world boasting a complete business line incorporating functions of general contracting, project management, planning, prospecting, design, construction, building and maintenance, and investment operation, and a constellation of Chinese key power engineering enterprises, talented engineering managers and technologists, as well as leading power engineering expertise.
