Shenzhen-listed China Wuyi Co won bid for a road construction project in Kenya worth about 327 million yuan ($49 million), the Fujian-based company said in a filing sent to the Shenzhen Stock Exchange on Tuesday.
Construction will take 912 days, said the company. The company said the political situation is stable in Kenya, but it also warned investors to be aware of the risks of exchange rate fluctuation.
The project is predicted to generate profits of up to 20 million yuan, but no impact will be felt this year, said the company.
The African Development Bank will provide funds for the project, said the company.
