China Wu Yi wins road bid in Tanzania

Updated 2017-12-12 11:05:19 Global Times

China Wu Yi Co announced Monday that it has won a contract for a road project in Tanzania.

The project for 112.18 kilometers of road is valued at 415 million yuan (.72 million) and construction is expected to last three years, the company said in filings to the Shanghai Stock Exchange.

The company estimated that the project could generate 21 million yuan in profit, but it would not have any major impact on the company's financial in 2017, according to the filing.

The project would be funded by the Tanzanian government, the filing said.

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