China construction to build Egypt's new parliament house

BEIJING -- China State Construction Engineering Corp. (CSCEC) announced on Friday a 2.7 billion U.S. dollar project contract for construction work in Egypt's new administrative capital.

The contract includes the construction of a national conference center, parliament house, exhibition center and office buildings for 12 government departments, the CSCEC said in a statement to Shanghai Stock Exchange.

Work is expected to take three years.

CSCEC's shares rose 2.06 percent to 5.46 yuan (0.8 U.S. dollar) Friday.