CSCEC ME’s Yu Tao claims top spot in Power 100 list for 2020
The contracting giant leapfrogged ALEC into first place for the first time in three years
In one of the most closely contested Power 100 lists since its establishment, we can now reveal that China State Construction and Engineering Corporation Middle East (CSCEC ME)’s president and chief executive officer, Yu Tao, has claimed this year’s top spot.
Yu Tao becomes the first person to be named as the construction industry’s most influential member of the Middle East in the past three years after ALEC’s Kez Taylor dropped down into second place.
China State has had an incredibly successful year and has been recognised for some of the most world’s most prestigious awards for its contribution to the built environment.
Over the past 12 months, CSCEC ME has delivered several projects with assured quality like the Parallel Roads Project and the 323 National Housing project.
The contractor has also been awarded several projects covering all sectors in the UAE’s construction industry such as its Oil & Gas and Etihad Railway Projects, which are processing smoothly to date.
Outside of the UAE, the firm delivered several landmark projects such as the Central Bank of Kuwait’s New Headquarters Building, which appears on the national currency. For its work on this project, in 2020, CSCEC ME was awarded the 7th Tien-Yow Jeme Civil Engineering Prize in China, the only overseas project to win this award.
Expanding on the Kuwait market, they also successfully stepped into Kuwait’s civil & infrastructure market.
CSCEC ME also won many other international awards last year, including the 10th Cycle of the Mohammed Bin Rashid Al Maktoum Business Award.
For its future plans, the firm is preparing to set up an office in Muscat, and wants to tap demand in Saudi Arabia for its array of gigaprojects in the kingdom.
Despite the economic uncertainty due to COVID-19, China State told Construction Week that it expects to hit $1.2bn in revenue by the end of 2020.