The board of directors of the China Machinery Engineering Corporation announced that the Company and Sinland Development Pte. Ltd, a wholly-owned subsidiary of the Company, formed a consortium with Shanghai Electric Power Transmission & Distribution Engineering Co., Ltd, to enter into a contract with Eco Friendly Tower Company Limited in respect of the construction of 1,500 Units of Eco Friendly Telecommunication Towers (Phase I) Project and 1,500 Units of Eco Friendly Telecommunication Towers (Phase II) Project in Myanmar (the 'Project') on December 21, 2017. The Consortium, as the contractor, will be responsible for procurement, civil engineering, installation, commissioning and other works of the Project. The total contract value amounts to $384.8 million. The corresponding amount of the contract value in respect of the scope of work of the Company and Sinland is approximately $200 million. The Contract will become effective upon the satisfaction of certain conditions precedent. As stipulated in the Contract, the Project is expected to be completed in approximately 36 months from its commencement date.