TORONTO, March 7, 2018 /CNW/ - Boyuan Construction
Group, Inc., (TSX: BOY, BOY.DB.A), a growing construction company
in China of commercial,
residential and municipal infrastructure projects, announced today
that it has started construction on two new projects with a
combined total value of US$40.1
million.
One of the projects is a residential development project located
in Hainin City of Zhejiang Province, with a contract value of
US$21.2 million and a construction
area of 69,300 square meters. This project is expected to be
completed in the fourth quarter of calendar year 2019.
The second project is a manufacturing facility located in
Jiaxing City, Zhejiang Province,
with a contract value of US$18.9
million and a construction area of 61,100 square meters. It
is expected to be completed in the first quarter of calendar year
2019.
"We are very pleased to add two more projects to our portfolio,
further strengthening our position in the key markets of
Zhejiang Province," said Mr.
Cai Liang Shou, Chairman and CEO of
Boyuan Construction Group. "Both Hainin and Jiaxing are
economically prosperous cities, known for their economic potential
and easy access to Shanghai via a
well-developed transportation network. It is important for us to
continue to expand our presence in these growing markets."
About Boyuan Construction Group, Inc.
Based in Jiaxing City, China,
Boyuan Construction Group, Inc. is in the business of commercial
building and residential construction, municipal infrastructure and
engineering projects. In its last three fiscal years ending
June 30, 2017, Boyuan completed 42
projects for a number of private and public-sector clients.
Boyuan's current project backlog includes residential, commercial,
industrial and mixed-use developments. From its operating bases in
Zhejiang Province and in
Hainan Province, Boyuan focuses on
construction projects in China's
fast-growing regions of the Yangtze River Delta and the
Hainan Province. For more
information visit www.boyuangroup.com.
Caution Regarding Forward-Looking Information:
Certain information contained in this press release constitutes
forward-looking information, which is information relating to
future events or the Company's future performance and which is
inherently uncertain. All information other than statements of
historical fact may be forward-looking information. Forward-looking
information is often, but not always, identified by the use of
words such as "seek", "anticipate", "budget", "plan", "continue",
"estimate", "expect", "forecast", "may", "will", "project",
"predict", "potential", "targeting", "intend", "could", "might",
"should", "believe" and similar words or phrases (including
negative variations) suggesting future outcomes or statements
regarding an outlook. Forward-looking information contained in this
press release includes, but is not limited to, management's
expectation to comply with the Alternative Information Guidelines.
Forward-looking information involves known and unknown risks,
uncertainties and other factors that may cause actual results or
events to differ materially from those anticipated in such
forward-looking information. The Company believes the expectations
reflected in the forward-looking information are reasonable but no
assurance can be given that these expectations will prove to be
correct and readers are cautioned not to place undue reliance on
forward-looking information contained in this press release. Some
of the risks and other factors which could cause results to differ
materially from those expressed in the forward-looking information
contained in this press release include, but are not limited to:
risk of a general cease trade order bing issued, risk of risk of
macro-economy cycle, risk from competition, risk from insufficient
marketing to secure new projects, risk in obtaining additional
financing, risk involving permits and licences, reliance on key
management member, risk from supply of raw materials, risk of
financial leverage, risk of bad debts in accounts receivables, risk
involved in real estate development, foreign exchange fluctuations,
political and economic conditions in China and other risks included in the
Company's AIF for the fiscal year ended June
30, 2017 and in the Company's public disclosure documents
filed with certain Canadian securities regulatory authorities and
available at www.sedar.com. The forward-looking information
contained in this press release are made as of the date hereof and
the Company undertakes no obligation to update publicly or revise
any forward-looking information, whether as a result of new
information, future events or otherwise, except as otherwise
required by law.
SOURCE Boyuan Construction Group, Inc.