AECOM and China Communications Construction Corporation subsidiary establish joint venture company to service environmental solutions opportunities in People’s Republic of China
HONG KONG, Aug. 7, 2017 /PRNewswire/ — AECOM, a premier, fully integrated global infrastructure firm, announced today that it signed an agreement with China Communications Construction Company Limited Highway Consultants Co., Ltd. (HPDI), a subsidiary of China Communications Construction Group Limited (CCCC), the fourteenth largest state owned enterprise in the People’s Republic of China (PRC), to establish a Beijing-based Joint Venture (JV) company for the purpose of servicing the growing need for stronger environmental protections across China.
The new JV company’s planned business offerings will include a wide variety of consulting and planning services for environmental restoration, projects for soil and groundwater pollution, water resources, surface water and sediment remediation, and treatment of solid waste, air and waste water. The new JV company will also leverage the significant international and domestic advantages of AECOM and HPDI-CCCC.
There is significant market opportunity for the new JV company. As economic and social development has accelerated across the PRC, concerns over environmental impacts have risen. PRC national government studies and recently, landmark legislation at national, provincial and municipal levels point to a dramatic shift forward in official and public support for environmental remediation. The official goal to “Achieve an overall improvement in the quality of the environment and ecosystems” is a core tenet of the PRC national government’s thirteenth Five-Year Plan (the PRC’s official national economy plan period), launched in 2016. Estimated investment in China’s environmental protection industry could exceed RMB17 trillion (approximately US$2.5 trillion) over the next few years.
“We look forward to working closely with HPDI-CCCC, to deliver bold and sustainable solutions for the 1.3 billion population of the People’s Republic of China, through AECOM’s international expertise and diverse skills, and HPDI-CCCC’s deep local knowledge and extensive reach,” said Mr. Sean Chiao, Asia Pacific president of AECOM. “As a global company with deep roots in many markets, AECOM’s 9,000 environmental specialists across the globe are working to provide comprehensive solutions addressing the most difficult environmental challenges faced by the world today, and we are eager to bring this expertise to bear for the benefit of improving China’s land, water and air quality.”
“It’s a great honor for us to be a joint venture partner of the leading global infrastructure company,” said Mr. Pei Minshan, chairman and general manager of HPDI. “Since its establishment over 60 years ago, HPDI has extensively participated in infrastructure planning and construction in China. We fully understand the significance of environmental protection. Under strategic development guidance of ‘Five-style CCCC’ (world-renowned engineering contractor, city complex developer and operator, distinctive property developer, comprehensive infrastructure investor, general contractor of heavy-duty marine equipment and harbor machinery production & system integration), and with AECOM’s globally leading technologies and methodologies, we hope to build a more open channel for the cooperation between the two companies, and make greater contributions to the improvement of China’s environmental quality.”
AECOM is built to deliver a better world. We design, build, finance and operate infrastructure assets for governments, businesses and organizations in more than 150 countries. As a fully integrated firm, we connect knowledge and experience across our global network of experts to help clients solve their most complex challenges. From high-performance buildings and infrastructure, to resilient communities and environments, to stable and secure nations, our work is transformative, differentiated and vital. A Fortune 500 firm, AECOM had revenue of approximately $17.4 billion during fiscal year 2016. See how we deliver what others can only imagine at aecom.com and @AECOM.
Founded in 1954, CCCC Highway Consultants Co., Ltd was formerly known as the Highway Planning and Design Institute (HPDI) of the Ministry of Transport of People’s Republic of China, and now is a wholly-owned subsidiary of CCCC and a leading engineering consulting firm in China with strong technical capabilities and extensive influence in the field of mega bridge design, underwater tunnel design and engineering consulting. Currently, with the goal of being a domestic leading and world’s first-class integrated international engineering consulting firm, and the main focus on building seven business systems, HPDI aims to speed up the whole industrial chain, the full life cycle and the international, comprehensive and diversified business development and layout.
All statements in this press release other than statements of historical fact are “forward-looking statements” for purposes of federal and state securities laws, including statements relating to the joint venture with HDPI, future joint venture business offerings and future investment in the Chinaenvironmental protection industry as well as other future economic and industry conditions. Actual results could differ materially from those projected or assumed in any of our forward-looking statements. Important factors that could cause actual results to differ materially from our forward-looking statements are set forth in our quarterly report on Form 10-Q for the fiscal quarter endedMarch 31, 2017, and our other reports filed with the U.S. Securities and Exchange Commission. AECOM does not intend, and undertakes no obligation, to update any forward-looking statements.
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