15 May 2013
In a move that gives it preferred-contractor status for major new resort developments in the USA and all over the world, China State Construction Engineering Corporation (CSCEC) has signed a global strategic cooperation agreement with MGM Resorts International.
The deal follows Monday’s announcement by MGM China Holdings Limited that it had signed CSCEC on as general contractor for MGM’s new casino-resort on the Cotai strip in Macau, expected to be complete in 2016.
The global agreement puts CSCEC in the frame to build such projects as MGM’s proposed resort on 20 acres of land at National Harbor, Maryland, and a planned $800-million casino-resort in Springfield, Massachusetts.
CSCEC chair Yi Jun, Shanghai, 2010. (Credit: Rod Sweet/CIOB)
Praising CSCEC as a "global construction and real estate development powerhouse", MGM chair and CEO James J. Murren said: "Their ability to deploy construction and development resources on a global basis will provide us with a significant competitive advantage in our development process.
"We intend to pursue projects with [CSCEC] not only in Macau and China, but elsewhere around the world."
"MGM has an impressive development pipeline," said CSCEC chairman Yi Jun, who studied construction project management at Cardiff University in the late 1980s.
"Our cooperation will compliment MGM’s development and construction efforts, while projecting China State’s capabilities globally."
MGM operates a portfolio of resort brands including Bellagio, MGM Grand, Mandalay Bay and The Mirage.