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CRCC gets railway contract in Libya

By Jiang Wei (chinadaily.com.cn)
Updated: 2009-01-23 16:05

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.