Capital Ethiopia Newspaper

China Rail Company inks USD 1.4 bln contracts in Africa

A subsidiary of China Railway Construction Corporation Limited has signed two projects in Africa with a total contract value of 1.4 billion USD the company said in a statement to the Shanghai Stock Exchange. The value of the projects, located in Nigeria and Djibouti, equates to just under two percent of China Railway’s 2010 operating income, the company said.  China Railway has actively pursued overseas investments this year. In late November, a consortium involving China Railway and Aluminum Corporation of China (Chinalco) announced a deal to develop an iron ore mine in Guinea.  The company is also part of a consortium.

(The Daily Monitor)