M a r k e t N e w s
China signs two construction deals worth US$5.5bn in Africa
Posted on : Thursday, 10th September 2015
China Railway Construction Corp Ltd., (CRCC) has signed two deals worth US$5.5bn for construction projects in Africa
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CRCC’s China Civil Engineering Construction Corporation will build an intercity railway line for US$3.5bn in Nigeria’s Ogun State.
The Chinese company has also won the order from the Zimbabwean Ministry of Local Government, Public Works and National Housing to develop the Magamba 2015 Housing Project for US$1.9bn.
CRCC board chairman Meng Fengchao said the deals were a milestone in the “going global” strategy of China’s railway firms.
China’s state-owned train manufacturers CSR Corp and China CNR Corp are in the middle of a merger to create a US$26bn new mega-company that will compete in overseas markets, for which they received approval from the Chinese government earlier this month.
Source : africanreview.com
