SINOPEC SSC Subsidiary Wins Bid for Key Section of Major Natural Gas Pipeline Project

Stock News07-07

An announcement has been issued by SINOPEC SSC (01033) regarding a significant contract win.

The company's wholly-owned subsidiary, Sinopec Petroleum Engineering Construction Co., Ltd., has been awarded the first section of the construction contract for the Heihe-Daqing and Daqing-Changling natural gas pipeline project.

The value of the successful bid is approximately RMB 1.772 billion.

This contract value is estimated to represent about 2.2% of the company's projected operating revenue for 2025 under Chinese accounting standards.

The scope of work involves the construction of a natural gas pipeline spanning roughly 279 kilometers, with a planned construction period of 710 days.

This successful bid is seen as a demonstration of the company's strong capabilities and established reputation in long-distance pipeline construction.

It is important to note that the formal contract has not yet been signed by the involved parties, and as such, the project still carries an element of uncertainty.

Investors are advised to be mindful of the associated investment risks.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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