{{Short description|Chinese construction and engineering firm}} {{Infobox company | name = Shanghai Construction Group Corporation | logo = | caption = | trading_name = | native_name = | type = [[State-owned enterprise]]| | industry = [[Civil engineering]] | predecessor = | foundation = 1994{{citation needed|date=August 2017}} | founder = | location_city = [[Shanghai]] | location_country = China | area_served = | key_people = | products = | production = | services = | revenue = | operating_income = | net_income = | assets = | equity = | owner = Shanghai Municipal Government | num_employees = | parent = Shanghai SASAC | divisions = | subsid = Shanghai Construction Group Co., Ltd. (30.19%){{#tag:ref|Shanghai Municipal Government owned an additional 24.01% shares of the listed company via [[Guosheng Group]]|group="nb"}} | homepage = {{URL|http://www.scg.com.cn}} | footnotes = }} {{Chinese|title=Shanghai Construction Group Corporation|s=上海建工（集团）总公司|t=上海建工（集團）總公司|p=Shànghǎi Jiàn Gōng (Jítuán) Zǒnggōngsī|order=st|altname=Shanghai Construction|s2=上海建工|t2=上海建工|p2=Shànghǎi Jiàn Gōng}} '''Shanghai Construction (Group) Corporation''' (SCG) is a [[People's Republic of China|Chinese]] construction and engineering company, ranked as the 16th largest construction company in the world based on 2011 revenues.<ref name=enr>{{cite news|title=The Top 225 International Contractors|url=http://www.enr.com/toplists/2015_Top_250_International_Contractors1|newspaper=Engineering News-Record}}</ref>
The group's listed arm Shanghai Construction Group Co., Ltd. ({{sse|600170}}, {{zh|s=上海建工集团股份有限公司|l=Shanghai Construction Group, Company Limited by Shares}}), was ranked at 1,096th on [[Forbes Global 2000|''Forbes'' Global 2000 List]], with a market cap of US$5.5 billion (as of May 2017).<ref>{{Cite news|url=https://www.forbes.com/companies/shanghai-construction/|title=Shanghai Construction on the Forbes Global 2000 List|work=Forbes|access-date=2017-07-04|language=en}}</ref>
The listed company was a constituent of [[SSE 180 Index]]<ref>{{Cite web|url=http://www.sse.com.cn/assortment/stock/list/info/company/index.shtml?COMPANY_CODE=600170|title = 公司概况 | 上海证券交易所}}</ref> and its sub-index SSE MidCap Index.
==History== In the 1990s the company underwent fast-paced growth as the home city of Shanghai was finally allowed to join in the reform and growth sweeping China.<ref name=earlygrowth>{{cite news|last=Faison|first=Seth|title=Shanghai Journal; Free Now to Build, China's Biggest City Binges|url=https://www.nytimes.com/1995/04/12/world/shanghai-journal-free-now-to-build-china-s-biggest-city-binges.html|newspaper=New York Times|date=April 12, 1995}}</ref> The city became a "builder's dream" and SCG benefited from the pent up zeal for projects with revenue climbing up 30% annually.<ref name=earlygrowth /> As the hometown builder, SCG is responsible for many of the landmarks of Shanghai including [[Shanghai Tower]].<ref>{{cite news|last=Wu|first=Ni|title=Tallest skyscraper in China reaches over 500m|url=http://www.chinadaily.com.cn/china/2013-04/11/content_16394558.htm|newspaper=China Daily}}</ref>
==International projects== SCG undertakes overseas construction projects and mining in [[Eritrea]]. It has an international focused subsidiary, the Shanghai (Group) Corporation for Foreign Economic & Technological Cooperation (SEFCO Group).<ref name=overseas>{{cite news|title=Shanghai Construction says to acquire Eritrea gold mine|url=https://www.reuters.com/article/ozabs-shanghaiconstruction-eritrea-idAFJOE7BQ00G20111227|newspaper=Reuters|date=December 27, 2011}}</ref>
The company's construction of a five star hotel in Cairo despite local political instability was cited by the ''New York Times'' in 2012 as an example of the endurance Chinese companies had in their bid to establish operations in Egypt.<ref name=cairo>{{cite news|title=Chinese Firms Brave Uncertainty in Egypt|url=https://www.nytimes.com/2012/08/30/world/middleeast/chinese-firms-brave-uncertainty-in-egypt.html|newspaper=New York Times|date=August 30, 2012}}</ref>
In February 2014, Shanghai Construction Group was awarded a contract for a sewage tunnelling project in Edmonton, Canada.<ref>{{Cite web|url=http://www.ottawasun.com/2014/05/20/chinese-construction-company-gets-edmonton-sewer-contract-ccppa-calls-it-a-violation-of-standards|title=Chinese construction company gets Edmonton sewer contract, CCPPA calls it a 'violation' of standards|website=Ottawa Sun|access-date=2017-07-04}}</ref> The $11-million bid marked the first time that a Chinese firm had done tunnelling work in North America.<ref>{{Cite news|url=http://www.canadianundergroundinfrastructure.com/article/23361/shanghai-construction-group-makes-north-american-tunnelling-foray|title=Shanghai Construction Group makes North American tunnelling foray|date=2016-05-03|work=Canadian Underground Infrastructure|access-date=2017-07-04|language=en-US}}</ref>
In 2014, the company was also contracted by the Tanzanian Ministry of Defence and National Service to construct 12,000 housing units for the [[Tanzania People's Defence Force|Tanzanian Peoples' Defence Force]] (TPDF) in a project financed by a $550m loan from the [[Exim Bank of China]].<ref>{{Cite web|url=http://www.globalconstructionreview.com/news/sha4nghai-co16nstruction-gr0oup-b9uild-12000-homes/|title=GCR - News - Shanghai Construction Group to build 12,000 homes for Tanzanian army|website=www.globalconstructionreview.com|date=10 October 2014|access-date=2017-07-04}}</ref>
Through an American subsidiary, the Group bought the [[Hyatt|Hyatt Regency]] Orange County hotel for $137 million in 2015, following a trend in which Chinese state owned construction firms are increasingly investing in overseas real estate.<ref>{{Cite web|url=https://www.mingtiandi.com/real-estate/outbound-investment/shanghai-construction-group-buys-orange-county-hyatt-for-137m/|title=Shanghai Construction Group Buys California Hyatt {{!}} Mingtiandi|website=www.mingtiandi.com|date=18 November 2015|language=en-US|access-date=2017-07-04}}</ref>
==Mining activities== Shanghai Construction Group is also involved in international mining operations. In December 2011, its subsidiary, the Shanghai (Group) Corporation for Foreign Economic & Technological Cooperation (SEFCO Group), acquired a 60% stake in the Zara gold mine in [[Eritrea]] for US$80 million.<ref name="overseas">{{cite news|title=Shanghai Construction says to acquire Eritrea gold mine|url=https://www.reuters.com/article/ozabs-shanghaiconstruction-eritrea-idAFJOE7BQ00G20111227|newspaper=Reuters|date=December 27, 2011}}</ref> The acquisition marked a diversification of SCG's international portfolio, which previously focused primarily on construction and engineering.
The Zara gold project, located near the capital city of Asmara, was developed as part of Eritrea's efforts to attract foreign investment in its natural resource sector. The mine was expected to produce approximately 104,000 ounces of gold annually during its early production phase.<ref>{{cite web|title=Zara Mining Share Company developing Zara Gold Project|url=http://www.zaraming.com/zara-gold-project.html|website=Zara Mining Share Company|access-date=2025-04-11}}</ref><ref>{{cite news|title=Chinese firms eye Africa's untapped resources|url=https://www.scmp.com/article/986275/chinese-firms-eye-africas-untapped-resources|newspaper=South China Morning Post|date=January 5, 2012}}</ref>
==Footnotes== {{reflist|group=nb}}
==References== {{reflist|30em}}
==See also== * [[Shanghai Municipal Investment Group]] * [[Shanghai Jiushi Group]]
{{Construction and civil engineering companies of China}} {{Gold mining companies of China}}
[[Category:Government-owned companies of Shanghai]] [[Category:Construction and civil engineering companies of China]] [[Category:Metal companies of China]] [[Category:Gold mining companies of China]] [[Category:Chinese companies established in 1994]] [[Category:Construction and civil engineering companies established in 1994]] [[Category:1994 establishments in China]] [[Category:Government-owned mining companies of China]]