January 23rd, 2009 | China Daily CRCC gets railway contract in Libya
China Railway Construction Corp (CRCC), China’s second-largest State-owned construction company, said one of its units had won a $805 million railway construction contract in Libya. The amount equals to 3.09 percent of the company’s revenue in 2007.
The unit will build a 172-km section of railway in the North African country, the company said. The project is scheduled to complete in 54 months. Analysts estimated the deal will yield a profit of about $80 million.
By Jiang Wei