(Yicai Global) March 27 -- Shares in China Gezhouba Group have jumped nearly 7.6 percent after the state-owned engineering contractor revealed a USD2 billion city construction deal in Bangladesh, its second big money contract this week.

The Wuhan-based firm's share price [SHA:600068] was trading at CNY6.98 (USD99 US cents) when the markets closed for lunch.

Gezhouba's wholly owned unit China Gezhouba Group International Engineering penned the engineering, procurement and construction deal with Bangladesh Development to help build up South Keraniganj in Bangladesh's capital Dhaka, the parent company said in a statement yesterday.  

The reveal came just one day after Gezhouba announced it hand landed a USD1.5 billion contract to build a power plant in Turkey.

The South Keraniganj contract will span 460 hectares and include the construction of residential buildings, healthcare and rehabilitation centers, sites for education events, exhibition venues and entertainment facilities over five separate phases.

Gezhouba will help raise funds for the project and begin construction once fundraising has finished and it has received a down payment, the statement added, without specifying how long the project would take.

Editor: James Boynton