TORONTO, Nov. 24, 2017 /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 in Jiaxing, Zhejiang Province. The combined value of these
projects is US$26.1 million.
"We are pleased to announce that we have initiated construction
on two new projects in Jiaxing, which is known for its increasingly
vibrant property market and home to our Company's headquarters,"
said Mr. Cai Liang Shou, Chairman
and CEO of Boyuan Construction Group. "Boyuan remains focused on
disciplined execution in our core markets. Our reputation for
high-quality builds strengthens our ability to secure future
business in key markets."
Both projects are located in Jiaxing, a city with a strong
economy and fast growing middle-class population. The first project
is a commercial development with a construction area of 15,542
square meters and a contract value of US$5.5
million. It is expected to be completed in the first quarter
of calendar year 2019. The second project is a residential
development with a construction area of 91,556 square meters and a
contract value of US$20.6 million.
Completion of this project is expected in the third quarter of
calendar year 2019.
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.