China Communications Construction Company (CCCC) Ltd., a Hong Kong-listed construction giant, reported revenue of more than 150 billion yuan (about 21.1 billion U.S. dollars) in 2007.

"With such a revenue level, we expect to become a Fortune 500 company," CCCC president Meng Fengchao told Xinhua Monday.

Established on Oct. 8, 2006, CCCC is mainly engaged in the construction and design of transport infrastructure, dredging and port machinery manufacturing.

It is the largest port construction and design company in China

The company signed new contracts valued at more than 200 billion yuan in 2007, Meng said.

In late February, CCCC signed a 1.6-billion-U.S. dollar contract with the Libyan government for housing and infrastructure construction

The market value of the company totaled 322.7 billion Hong Kong dollars as of December 31, 2007, making it the largest construction firm in the world in terms of market value, Meng said.