China Gezhouba wins US$829 mln deal from Libya

China Gezhouba Group Co<600068>, one of the nation's leading hydroelectric contractors, said on Tuesday that it has won a housing project in Libya with an initial contract value of US$829 million.

The three-year deal includes construction of residential complexes on six areas located 120 to 260 kilometers from Tripoli, the capital of Libya, said the company in a statement.

Founded in 1970, China Gezhouba has a broad business range including infrastructure construction, investment, hydroelectrical works and highways as well as real estate. It is the main contractor of the Three Gorges Hydroelectric Project. Last month, the construction company received board approval to set up a branch in Libya's Gharyan, with a registered capital of 150,000 Dinar.