China Railway signs USD1.8 billion Abuja Rail Mass Transit contract


China Railway Construction Corp Ltd said it has signed the Abuja Rail Mass Transit Project Addendum 2 Deal.

According to the company, the contract is valued at RMB12 billion which is approximately USD1.8 billion using real-time exchange rate.

The contract was signed with the Federal Capital Territory Administration Of Government Of Nigeria.

China Railway Construction Corp. Ltd. engages in the construction business. It operates through five segments: Construction, Survey, Design & Consultancy, Manufacturing, Real Estate and Other Business Operations. The Construction Operations segment engages in the construction of infrastructure such as railways, highways, metropolitan railways and real estate projects.

The Survey, Design & Consultancy Operations segment engages in the provision of survey, design and consultancy services, as well as technology and equipment research and development service. The Manufacturing Operations segment engages in the design, research and development, production and sale of large track maintenance machinery as well as the manufacturing of components for railway construction. The Real Estate Operations segment engages in the development, construction and sale of real estate projects.

The Other Business Operations segment mainly comprises real estate development and logistics businesses. The company was founded on November 4, 2007 and is headquartered in Beijing, China.