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China Railway Group wins RMB 28.09 bln contracts

Sep. 13, 2012 (China Knowledge) - China Railway Group Ltd<601390><0390>, the country's leading railway and highway builder, announced yesterday that it, together with some subsidiaries, recently won the bids for 16 projects with a total contract value of RMB 28.09 billion.

The company said in a statement that the contract value was equivalent to 6.11% of its operating revenue in 2011.

The company will help to build the first phase of Chengdu Metro Line 3 with contract value of RMB 6.9 billion and a road project in the city with contract value of RMB 4.38 billion.

In addition, two subsidiaries of the company jointly won the bid for an RMB 3.48-billion railway project in Venezuela.

The company signed RMB 290.41 billion worth of new contracts in the first half, accounting for 44.7% of its annual target, China Knowledge reported earlier.

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