China Railway lands $263m construction project

China Railway Group announced it had secured a railway construction deal worth US$263.1 million, Reuters reported. The construction project, for a 70-kilometer railway in Yunnan province, is expected to take just under five years to complete. The value of the contract represents approximately 1% of the company’s 2006 revenues. In March, China Railway Group raised a combined US$5.4 billion in a duel Hong Kong and Shanghai listing, in what was considered a muted debut.