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China Railway Construction Unit Pens USD825 Million Repair Contract in Zambia
TANG SHIHUA
DATE : MAR 04 2020/SOURCE : YICAI
China Railway Construction Unit Pens USD825 Million Repair Contract in Zambia
(Yicai Global) March 4 -- A subsidiary under China Railway Construction has signed a USD825 million contract to repair three railroads in Zambia after landing a track construction deal in Nigeria just last week.
China Civil Engineering Construction and the Zambian Ministry of Transport and Communications signed off on the terms, which will see the Chinese firm design, procure for and carry out the restorations, its parent said in a statement yesterday.
Shares in China Railway Construction [SHA:601186] were up 3.13 percent at CNY10.86 (USD1.56) when the Shanghai bourse closed for lunch.
The three tracks span 648.3 kilometers and the firm believes it can complete the repairs within eight years. They each have a maximum design speed of 118 kilometers per hour for passenger trains and 80 kilometers per hour for freight trains, according to the statement. A railroad connecting Livingstone and Kafue Bridge makes up most of the project, with two smaller lines connecting Livingstone and Mulobezi, and Masuku and Choma, making up the remainder.
The subsidiary has been pushing for new infrastructure deals in Africa and last week signed a construction contract for the Lagos-Kano railway in Nigeria, which it expects to complete in about three years.
It also won a USD2.3 billion contract in Zambia in November 2016 to build a nearly 389 kilometer railroad, which was China Railway's first major deal in the country since it built the Tanzania-Zambia Railway in the 1970s.
https://yicaiglobal.com/news/china-...pens-usd825-million-repair-contract-in-zambia
TANG SHIHUA
DATE : MAR 04 2020/SOURCE : YICAI
China Railway Construction Unit Pens USD825 Million Repair Contract in Zambia
(Yicai Global) March 4 -- A subsidiary under China Railway Construction has signed a USD825 million contract to repair three railroads in Zambia after landing a track construction deal in Nigeria just last week.
China Civil Engineering Construction and the Zambian Ministry of Transport and Communications signed off on the terms, which will see the Chinese firm design, procure for and carry out the restorations, its parent said in a statement yesterday.
Shares in China Railway Construction [SHA:601186] were up 3.13 percent at CNY10.86 (USD1.56) when the Shanghai bourse closed for lunch.
The three tracks span 648.3 kilometers and the firm believes it can complete the repairs within eight years. They each have a maximum design speed of 118 kilometers per hour for passenger trains and 80 kilometers per hour for freight trains, according to the statement. A railroad connecting Livingstone and Kafue Bridge makes up most of the project, with two smaller lines connecting Livingstone and Mulobezi, and Masuku and Choma, making up the remainder.
The subsidiary has been pushing for new infrastructure deals in Africa and last week signed a construction contract for the Lagos-Kano railway in Nigeria, which it expects to complete in about three years.
It also won a USD2.3 billion contract in Zambia in November 2016 to build a nearly 389 kilometer railroad, which was China Railway's first major deal in the country since it built the Tanzania-Zambia Railway in the 1970s.
https://yicaiglobal.com/news/china-...pens-usd825-million-repair-contract-in-zambia
