Power Construction Signs 17.193 Billion Yuan Iraq Desalination Project

China Power Construction's subsidiary, PowerChina International Group Limited, has signed a contract with the Basra provincial government for an Iraq Basra seawater desalination project worth about 17.193 billion yuan, according to Jiemian News. The company had the lowest trailing price-to-earnings ratio among 13 desalination concept stocks tracked by Securities Times Data Treasure as of the July 20 close, at 8.92 times. Those 13 desalination concept stocks had a combined A-share market value of 413.16 billion yuan, and six of them had trailing P/E ratios below 20 times, including China Power Construction, Capital Eco-Environment Protection Group, Lingxiao Pump Industry, SanDaMembrane, and Xinxing Ductile Iron Pipes.