- Categories:About us
- Time of issue:2018-07-24 00:00:00
China Overseas Engineering Group Co., Ltd (hereinafter referred to as COVEC or Company), located in Haidian District,Beijing, is a state-owned integrated enterprise with independent legal person status. The Company was initiated and founded by China National Complete Plant Export Corporation in 1987; it became a subsidary enterprise of the former Ministry of Foreign Trade and Economic Cooperation in October 1991, and was officially named as China National Overseas Engineering Corporation. The Company was incorporated into the former Working Committee for Central Enterprises in October 1998, and into the State-owned Assets Supervision and Administration Commission of the State Council (SASAC) in 2003. Approved by the SASAC on December 19, 2003, the Company restructured strategically with China Railway Group Limited (hereinafter referred to as CREC) and became its subsidiary. In the year of 2020, CREC carried out major strategic reform for its overseas business development mechanism, with the pattern of “One-entity, Two-wings, and N-drives”. COVEC, taking the role of one wing, will shoulder the leading responsibility in promoting the development of overseas markets vigorously.
Since it was established more than 30 years ago, COVEC has undertaken over1,000 large and medium sized projects in nearly 100 countries, with a total contract value of USD 12.22 billion and a turnover of USD 8.584 billion, covering housing construction, roads, bridges, irrigation and water conservancy, photovoltaic power stations and other fields. Since 1990s，the Company has been consecutively listed in the ENR Top 225 International Contractors which has established an eminent reputation in the international project contracting markets. “COVEC” has been developed into a well-known international engineering contractor brand in some regional markets like Africa, South Pacific, Southeast Asia, Eastern Europe and others. The Company has won many awards including "National Advanced Enterprise In General Contracting of Construction Enterprise", "Market Development Award for Foreign Contracting Engineering Enterprises in China", "Best of Category Award for the Construction of Project Management System"; been rated as the Grade AAA Credit Rating Enterprise in the Foreign Contracting Engineering Industry, Foreign Labor Service Cooperation Industry and China Chamber of Commerce for Import and Export of Machinery and Electronic Products; and won the honorary title of "National Model Enterprise with Harmonious Labor Relations". In July 2019, Bheri Babai Diversion Multipurpose Project in Nepal undertaken by COVEC participated the ENR’s 7th Annual Global Best Projects Competition and was selected as the Award of Merit in Water category, which filled the blank of CREC in this award.
Being one of the earliest state-owned enterprises that is engaged in the international engineering contracting markets and the field of labor export in China, COVEC has the operating qualification certificate for foreign labor cooperation (labor service output) of the P.R.C., Grade A qualification for general contracting of construction projects issued by the Ministry of Housing and Urban-Rural Development of the People’s Republic of China, Grade A qualification for general contracting of railway engineering construction, Grade A qualification for general contracting of municipal public engineering construction and Grade A qualification for specialized contracting of the highway pavement engineering and Grade A qualification for specialized contracting of building decoration engineering issued by Beijing Municipal Commission of Housing and Urban-Rural Development.
On August 12, 2020, COVEC, completing reform and restructuring successfully, was officially inaugurated, setting a brand-new development vision and strategy. At present, the Company has established 9 overseas regional headquarters respectively in Northern South America, South Pacific, West Africa, East Africa, Central Africa, Central and Eastern Europe, Southwest Europe, Central and Western Asia and Nepal, covering 88 countries. COVEC will pursue the development vision of "advocating value creation, forging high-quality character", set up the operation concept of "big overseas", "large market" and "major projects", practice the development strategy of "Taking the leading responsibility of two-wing fly, Building the product structure of three propellers, Aggregating superior resources, and Driving Innovative development" to accelerate the pace to step into the fast lane of high-quality development. We sincerely invite people of all circles to work together for a higher and further prospects.