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Leaving a lasting imprint of friendship in New York

By Zhang Yuwei (China Daily) Updated: 2014-10-14 07:27

In April, CCA completed the acquisition of Plaza Construction, a leading US construction management and general contracting company. The financial details weren't disclosed, but the deal could potentially boost the financial strength of Plaza, which will run autonomously.

Plaza is also a good addition for CCA's private construction and real estate business in the US, Yuan said.

With a combined contract value above $3 billion, CCA's revenue is expected to top $2 billion in 2014, making it a top 50 contractor in the US, Yuan said of the merger.

For Yuan, it is just the beginning of CCA's American dream.

By December, the company is scheduled to complete the Baha Mar resort project in Nassau, the Bahamas.

The 44-month Baha Mar project on Nassau's Cable Beach is valued at $3.5 billion and will be a "showcase" for CCA, Yuan said. "It also will build a good foundation for us to tap into the Caribbean market."

Sarkis Izmirlian, chairman and CEO of Baha Mar Ltd, the owner of the resort, said that when the site - with a collection of hotel brands with gaming, entertainment, private residences, shopping and art galleries - is in full operation, it could create up to 10,000 local jobs.

"This partnership (with CCA) is going to have a huge, long-term impact on the Bahamas," said Izmirlian.

Yuan, who also serves as president of the China General Chamber of Commerce-USA, said he wants to share what CCA has learned with his Chinese peers looking to invest in the US.

"It's important to think how to be sustainable in the US market after the initial investment," he said.

Leaving a lasting imprint of friendship in New York

Leaving a lasting imprint of friendship in New York

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