Net profits increases 70 percent

Shanghai Pudong Road and Bridge Construction Company (Pudong Construction) has announced that its operation revenue in 2012 reached 1.21 billion yuan ($190 million), up 5.81 percent year-on-year, on March 26. Total profit reached 843 million yuan, a 98.98 percent increase on the previous year. The net profit attributed to its parent company was 359 million yuan, an increase of nearly 70 percent.

As the only municipal company listed on the market belonging to the State-Owned Assets Supervision and Administration Commission (SASAC), Pudong Construction undertakes most of the infrastructure construction projects in Pudong New Area. It is an integrated joint-stock enterprise and operates various businesses, including investment of highways and roads and municipal construction.

Infrastructure projects speeding up

Pudong Construction announced that it would build four roads for Shanghai Disneyland Park with a total investment of 3.92 billion yuan in early 2012.

The company has been trying to construct key projects in a comprehensive way. The construction of Tanghuang Road and Hangcheng Road, which are part of Disneyland Park’s supporting facilities, have been completed. The projects are regarded as important engines for Shanghai’s growth in the next few years.

It also promotes projects under construction, including a bridge of the southwest loop and the reconstruction of Changqing Road, which have been fully completed in accordance with the proprietors’ requirements. The company is also actively preparing upcoming projects, including the construction of Xiupu Road and Lianggang Avenue.

A group of major functional projects, such as Disneyland Park and a commercial aircraft, will bring high growth for Shanghai’s investment. During the 12th Five-Year Plan (2011-2015), Pudong’s investment in infrastructure will reach 300 billion yuan, equal to the sum of Pudong’s investment in the past 20 years.