China CAMC Engineering Co., Ltd. (CAMCE) has signed a contract worth $956-million with the Compania Anonima de Administraciony Fomento Electrico, a Venezuelan company for cooperation, CAMCE said late Monday.

The two sides are to construct a thermal power plant in the South American country, which possesses an installed capacity of 500,000 kilowatts (KW).

The deadline for the plant's completion will be of 45 months and is expected to bring very positive results to CAMCE when put in operation.

The project, still pending approval by both governments, will also help CAMCE to expand in electrical engineering industry and consolidate its market share in Venezuela.