Sinoma Intl 2010 new contract value up 17%

China Sinoma International Engineering<600970>, the world's largest provider of cement engineering and integration services, recorded RMB 24 billion in new contract value in 2010, 17% more than in the previous year, said an insider from the company, sources reported.

The figure included RMB 9.2 billion worth of new orders secured in the domestic market and RMB 14.8 billion of new overseas contracts.

The insider said that the company will continue to focus on the overseas market, whose new contract value is expected to increase significantly this year.

The insider added that new cement capacity of between 65 million metric tons and 70 million metric tons will be added around the globe this year, and new emerging countries like India, Brazil and Russia have more growth potential.

China Sinoma International said earlier that it expected to see net profit for 2010 surge more than 80% year on year to about RMB 740 million. The firm's unaudited operating revenue was RMB 18 billion last year.

From China Cement (2011-2-12)