By the end of November, 2013, International Engineering Company of CRCEG has made a historic breakthrough and signed the new contract value of RMB 1.7 billion yuan in Papua New Guinea, accounting for 340% of RMB 500 million yuan, the plan for the year 2013.
Since entering into the PNG market in October, 2009, International Engineering Company has expanded its business into various fields, including residential buildings, commercial development, hotels, public works, etc., and gradually become one of the largest foreign contractors in Papua New Guinea.
With adaption to the local market in recent years, the company has adjusted its development strategy and decided to move towards the upper and middle sectors of the construction industry. It has set up a team specialized for the integration of design, construction, real estate development, investment and financing, and contracted a series of projects there, e.g. AIRWAYS Hotel and OPH Commercial Building, of which the latter will become the landmark of the capital. Besides, it has attached great importance to the long-term cooperation with local clients, suppliers and manufacturers, aiming at providing satisfying products and services continuously. And the zero-accident record it keeps during construction has won high recognition from clients.
With regards to management, the company has learned from the international advanced mode and taken the features of local labor market into consideration. On the one hand, they attract extensively technical and managerial personnel from different countries and regions, and on the other, they employ large number of local workers, providing relevant training and teaching them practical techniques. And the localization of human resources has also been praised by PNG government. According to incomplete statistics, more than 2000 job opportunities have been provided for local people, and a construction team made up of 500 locals has also been set up.