China Second Metallurgy Group Co won its bid for a project renovating shanty towns in Mongolia on Nov 2, according to local media reports.

The project will mainly involve the construction, installation, external engineering pipeline network, construction facilities, roads, sites, elevation and landscaping of 1,008 residential communities in Ulan Bator, the capital city of Mongolia.

The total construction area will be about 97,000 square meters, including eight residential buildings and two underground garages.

The project will adopt the self-construction model of the recipient country, and China will implement limited external supervision.

This project is the largest foreign aid project by the Chinese government in recent years, and it will have a positive and far-reaching impact on the harmonious construction of diplomacy and economic cooperation in China and Mongolia.

Founded in 1956 and based in Baotou, North China's Inner Mongolia autonomous region, China Second Metallurgy Group Co is a comprehensive construction enterprise specializing in engineering projects, equipment manufacturing, and real estate. It is a subsidiary of China Metallurgical Group Corporation, one of the world's top 500 companies.