PR97723

SHANGHAI, Sept. 8, 2022 /PRNewswire=KYODO JBN/ --

Shanghai Electric<https://www.shanghai-electric.com/group_en/ > moved up to 40th

place on the 2022 Top 250 International Contractors list released by

Engineering News-Record (ENR), a world-renowned academic publication for news,

analysis, commentary and data on the global engineering and construction

industry.

The company placed 51st last year, rising swiftly to this higher position on

the list in just a short period. Widely considered as the industry barometer,

the annual ENR list is a highly influential, authoritative ranking that

comprehensively reflects the trends taking place across the international

engineering market throughout the year.

The list ranks the world's construction companies based on revenue generated by

the sum of the projects they are involved in. Shanghai Electric made the list

by virtue of 11 of its major international projects, including a

photovoltaic-thermal (PV-T) facility and Phase 5 of the Mohammed bin Rashid Al

Maktoum Solar Park in Dubai, the Thar Block-1 Integrated Coal Mine in Pakistan,

a gas-fired thermal power plant in Pancevo, Serbia, a solar facility in Cyprus

as well as power plants in Rupsha, Bangladesh and Wassit province, Iraq.

In addition, the firm took third position among China's state-owned power

engineering enterprises on the list, up by one position from last year, while

ranking among the top ten on the regional list for the Middle Eastern market.

Despite the continued impact of the COVID-19 pandemic in 2021, Shanghai

Electric achieved several major milestones by overcoming unprecedented

challenges and continuing the implementation of its overseas projects, ensuring

the uninterrupted growth of revenue from the projects while contributing

significantly to the rise of the firm's ranking on the ENR list.

The milestones included the grid connection of Zone 1 of the company's PV-T

facility in Dubai and of Pancevo's gas turbine units, the temporary handover of

Zone A at Phase 5 of Dubai Solar Park, the hydraulic testing of boilers at the

Thar power plant, the connection of Thar Coal Mine's PV power station to the

power grid in Bangladesh (a grid that is currently over-reliant on fossil

fuels), and the concrete pouring for Rupsha's steam turbine base.

In 2022, 79 mainland Chinese companies were included in the list, making China

the first in the world in terms of the number of firms that made the ranking.

Four of them are involved in the power engineering sector, aside from Shanghai

Electric, they include Power Construction Corporation of China (PowerChina),

China Energy Engineering Group (Energy China) and China National Machinery

Industry Corporation. Shanghai Electric also ranked among the top ten on the

regional list alongside PowerChina, Energy China, China State Construction

Engineering Corporation and China Railway Construction Group Corporation.

According to the ENR list, the global infrastructure construction market showed

a recovery in 2021. Combined contracting revenue of the Top 250 increased 5.1%

year on year to $547.2 billion last year, while combined international turnover

of the companies declined 5.4% to US$397.9 billion, a vast improvement compared

to the drop of 11.1% in 2020. Among the 236 companies that have made the list

for two consecutive years in 2021 and 2022, 62.3% saw an increase in

international turnover.

All of the top 250 companies have built distinctive competencies in their

respective regional markets. Most notably, Chinese contractors continued their

leadership role in Africa (with a share of 59.3%), Asia (55.3%) and the Middle

East (40%). In 2021, turnover from the transportation construction business of

the Top 250 reached US$132.17 billion, accounting for 33.2 per cent of the

total, followed by housing construction, petrochemical and power engineering,

with combined turnover of the four business types making up 80.1% of the total.

About Shanghai Electric

Shanghai Electric Group Company Limited (SEHK: 2727, SSE: 601727) is a

world-class high-end equipment manufacturer, focusing on smart energy,

intelligent manufacturing and smart infrastructure to provide green and

intelligent industrial-grade system solutions. It has a global presence in

industries such as new energy, efficient clean energy, industrial automation,

medical devices and environmental protection.

SOURCE  Shanghai Electric