Shanghai Electric (601727.SS and 02727.HK) announced the Company has been 
ranked 51st on the 2021 Top 250 International Contractors list published by 
Engineering News-Record (ENR), a world-renowned publication for engineering and 
construction news and analysis. With a total of 22 overseas projects, Shanghai 
Electric saw the biggest jump in rankings among its Chinese peers this year, 
despite the lingering impact of the COVID-19 pandemic on global large-scale 
engineering projects.

Widely considered the industry barometer, the ENR list ranks global 
construction companies based on revenue generated by their overseas projects. 
According to the annual list, 2020 marked another difficult year for global 
infrastructure construction firms, filling the market with uncertainties and 
short-term risks. ENR reports that the total international contracting revenue 
for the Top 250 dropped 11.1% to $420.4 billion in 2020, from $473.1 billion in 
2019, which is the largest single-year drop recorded in ENR international 
contracting data going back to 2003. Amid the complex and challenging market 
climate, Shanghai Electric implemented proactive business strategies at home 
and abroad, in an effort to protect onsite employees while maintaining a high 
growth rate of revenue for its major international projects, including Dubai 
CSP, Pakistan's Thar Block-1 Integrated Coal Mine and Power Project, Serbia's 
Pančevo, Vietnam's Forte, Greece's photovoltaics, and Iraq's Huashide 
maintenance projects.

Looking back in 2020 along which Shanghai Electric rebounded from the COVID-19 
pandemic, a spokesperson of Shanghai Electric, stated that Shanghai Electric 
has once again shown its resilience in difficult times for the global 
engineering industry. "In the face of a constantly shifting business 
environment and uncertain industry outlook over the past year, Shanghai 
Electric has taken swift actions to minimize construction delay, address onsite 
worker safety and shortages, and ensure a high turnover of its overseas 
projects. The recognition from ENR is another testimony to the exceptional 
efforts we made, as well as our efficient management and the industry-leading 
product quality as a result of our unwavering pursuit of excellence," he said.

Meanwhile, construction of Shanghai Electric's major overseas projects is 
underway with all progress on schedule.

-The 300MW first stage of the 900MW Phase 5 at the Mohammed bin Rashid Al 
Maktoum Solar Park (MBR Solar Park) completed a 10-day performance test in late 
July this year and entered commercial operation ahead of schedule in 
mid-August. 
-The first aquifer of the open-pit coal mine of Pakistan's Thar Block-1 
Integrated Coal Mine and Power Project has been completed at the end of June. 
-The 220 kV switch station at the Pančevo gas combined cycle power plant 
in Serbia completed backfeeding on August 19. The operating status of all 
devices involved is stable and showed promising results, which laid groundwork 
for grid-connected power generation.

In addition, the 300 MW Unit -1 of the Deenbandhu Chhotu Ram Thermal Power 
Station (DCRTPP), Yamuna Nagar of Haryana Power Generation Corporation Limited 
(HPGCL) has broken the records by completing a 145-day continuous operation on 
April 19, 2021, carried out by the Shanghai Electric engineers. 

The maintenance mission came amid a challenging time when India was 
experiencing a new wave of COVID-19. Working under immense pressure and against 
all odds, HPGCL and Shanghai Electric engineers joined hands to undertake an 
overhaul for the unit, which allowed the unit to operate without any technical 
issues over the next five months. In March 2021, the unit recorded a monthly 
Plant Load Factor (PLF) of 86.32 per cent, which is among the best-performing 
power plant benchmarks across the country.

Unit 4 of Jindal 4X300MW coal-fired power plant in India also recorded a 
711-day failure-free operation in September 2020, smashing the previous record 
of 684-day operation without breakdowns and set a new standard for the entire 
country. In January 2021, India's Warora 2X300 MW coal-fired power plant 
project clinched the "Best Performance Award", which marked the third 
consecutive year the power plant has received the recognition.

SOURCE Shanghai Electric