(Yicai) July 1 -- Shares of CECEP Techand Ecology and Environment surged by the exchange-imposed daily trading limit after the environmental engineering service provider under China Energy Conservation and Environmental Protection Group said it secured its first overseas engineering, procurement, and construction project.

Shares of Techand [SHE: 300197] were trading up 20 percent at CNY1.37 (19 US cents) as of lunch break in Shenzhen today.

Techand will design and build the Keturah luxury holiday resort in Dubai, the United Arab Emirates, in 1,095 days for local property developer Mag of Life, the Shenzhen-based company announced late on June 28.

The deal is expected to bring Techand AED2.8 billion (USD768 million) worth of service revenue, which is about four times the firm’s audited operating revenue of last year, Techand added.

The Keturah resort consists of 12 ultra-luxury villas, five luxury residential apartment buildings, three high-end hotel-style apartment buildings, and surrounding infrastructures for a total of about 155,000 square meters of construction area, Techand noted. Once completed, the resort will be operated by international hotel management brand Ritz-Carlton.

The project is about five kilometers from the Burj Khalifa, adjacent to the Ras Al Khor Wildlife Sanctuary, Techand pointed out.

Editor: Futura Costaglione