China Railway clinches RMB 10.58 bln construction contract
China Railway Group, the biggest railway and highway builder in the country, said Tuesday its two units have won railway construction contracts for building the Beijing-Shijiazhuang rail line worth a total of RMB 10.58 billion.
The two units, namely China CREC Railway Electrification Bureau Group and China Railway No.1 Engineering Group Co Ltd, have been awarded reconstruction contracts worth RMB 4.89 billion and RMB 5.69 billion respectively, making a total of RMB 10.58 billion. The projects are to be completed within a period of 1,125 days, said China Railway Group in a statement filed with the Shanghai Stock Exchange.
The value of the two deals equals 5.9% of its sales in 2007, the statement said.
China Railway No. 6 Group won a construction project for Tianjin West Railway Station, along the new Beijing-Shanghai high-speed rail line, late last month, worth RMB 2.1 billion. The contract is equivalent to 1.17% of its operating revenue last year, according to an earlier statement the company filed with the Shanghai bourse.
Tags: Railway