December 02, 2008

China Railway wins USD 1.55 billion rail contract

Reuters reported that China Railway Group has won a railway construction contract worth CNY 10.58 billion (USD 1.55 billion).

China Railway Group in a statement said that the value of the contract to build passenger rail links between Beijing and the northern Chinese city of Shijiazhuang is equivalent to 5.9% of its 2007 sales under domestic accounting standards.