China Railway Group Bags Shenzhen Transit Line Project

China Railway Group Bags Shenzhen Transit Line Project

Hong Kong-listed China Railway Group said it has won a bid to construct a 23.50-billion-yuan ($3.6 billion) line in the Shenzhen urban transit system along with seven subsidiaries.

The project is expected to take about four-and-a-half years to complete and accounts for approximately 3.68% of the company’s operating income as of 2016 under Chinese accounting standards, the Beijing-headquartered company said in a late Tuesday filing to the exchange.

China Railway Group, a major infrastructure builder, is also listed in Shanghai.

The contract includes construction of most stations, depots and related infrastructure, the company added.

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