China: Sinoma (CNBM) International Engineering’s value of new projects grew by 9% year-on-year to US$5.3bn in 2020. Most of these projects came from growth in its construction business segment. However, new project value from its equipment manufacturing business fell by 5% to US$629m. By region, domestic new project value decreased by 3% to US$2.1bn but overseas new project value rose by 19% to US$3.2bn. The engineering company and member of CNBM group also reported that its US$480m project to build a 5000t/day clinker production line in Zambia for Central African Cement remains in the financing stage. The project was originally announced in late 2018.
