2019 CW Power 100: Yu Tao of China's CSCEC ME takes #2 spot

2019 CW Power 100: Yu Tao of China's CSCEC ME takes #2 spot
Yu Tao is president and CEO of CSCEC ME.
Published: 30 June 2019 - 10:51 a.m.
By: Neha Bhatia

Yu Tao, president and chief executive officer of China State Construction and Engineering Corporation Middle East (CSCEC ME), heads up the contracting giant’s regional operations.

Based out of CSCEC ME’s headquarters in Dubai, Tao has been in his current role for 16 years and has worked for CSCEC for a total of 27 years to date.

The value of the group’s projected revenue for the current fiscal year – the 12 months ending 31 December, 2019 – stands at $920m, a small increase on 2018’s corresponding $920m revenue figure.

Projects completed by CSCEC ME since May last year include Dubai Silicon Park, a 23-building project covering an area of nearly 10ha; and Union Properties’ Oia Residence, a low-rise residential building located in Dubai Motor City.

CSCEC ME is also involved in Package A for Stage 2 of Etihad Rail. The scope of work includes design and build, civil, and track works. The 139km route will comprise a standard-gauge double track route running west to connect Ruwais with Ghuweifat on the border with Saudi Arabia.

“Saudi Arabia is the next target market that we want to work with,” Tao says.

“Saudi Arabia has officially been elevated to an emerging market, which gives us more opportunities to enter the market.”

The CSCEC ME chief says payment delays are “still the biggest challenge” facing the group.

“We spend as much money as we can to maintain the operation of the projects, to ensure they are delivered on time, but we cannot get the money back from clients in time.”

Check out the 2019 Construction Week Power 100 magazine issue here.

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