​2.63 billion yuan! ECEC won the bid for Bolivia's first large-scale chemical plant construction project, and its stock price rose by 1.2%!

On September 3, East China Engineering Science and Technology Co., Ltd. (ECEC), an engineering construction service provider under China National Chemical Engineering Group Co., Ltd., won the bid for Bolivia's first large-scale chemical plant construction project.

ECEC announced that the construction plant is located in Uyuni, Potosí Province, Bolivia, and is owned by the state-owned Bolivian Chemical Industry Company. It will produce sulfuric acid, hydrochloric acid, sodium hydroxide, calcium hydroxide and sodium carbonate.

ECEC will be responsible for all development stages of the plant from engineering design to construction to after-sales service. The construction period is expected to be 46 months, with an additional 12-month operation evaluation period.

The design, procurement and construction contract signed by ECEC and the Bolivian state-owned enterprise supervision department is worth 2.6 billion Bolivian pesos (about 2.63 billion yuan), of which 70% will be settled in RMB.

The company pointed out that this project has passed the Bolivian national budget review and is worth 35% of ECEC's total revenue last year. Therefore, the smooth implementation of the project will have a positive impact on ECEC's financial performance and help the company expand its market share in engineering construction services in South America.

According to ECEC's latest annual report, last year, the company's revenue from chemical plant construction business accounted for nearly 89% of its total revenue, and the rest of its revenue mainly came from environmental governance and infrastructure construction. Overseas business only accounted for 0.4% of the company's total revenue.

ECEC [SHE: 002140] shares closed up 1.2% at 6.61 yuan (93 cents) in Shenzhen on the 5th.