- Opportunities for new projects continue in 2016 -
TORONTO, Feb. 24, 2016 /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 initiated construction on two new residential projects located in the Company's key markets.
"Despite the economic challenges China has experienced, the country is in the midst of transitioning to a growth path that is more sustainable," said Mr. Cai Liang Shou, Chairman and CEO of Boyuan Construction Group. "Boyuan's high-quality builds and reputation in our core markets strengthens our ability to our ability to execute future projects."
Boyuan has initiated a residential project in Sanya which is the located at the southernmost point on Hainan Island. With a contract value of US$15.3 million, the project has a total construction area of 105,490 square meters and is expected to be completed by the second quarter of calendar year 2017.
The second residential project has been initiated in the northern area of Zhejiang province in the city of Jiaxing. The project has a construction area of 96,045 square meters, a contract value of $28.0 million with an expected completion to occur by the third quarter of calendar year 2018.
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, 2015, Boyuan completed 45 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, Hainan Province and Shandong 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. 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 have been identified in the Company's AIF for the fiscal year ended June 30, 2015 and in the Company's other 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 is 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.
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