CHINA Railway Construction Corporation has won more than 120 billion yuan (US$16 billion) of overseas contracts between January 2006 and September this year, Li Guorui, chairman of the board, said in Beijing yesterday.
Li, who is a delegate to the ongoing 17th National Congress of the Communist Party of China, attributed the rapid growth to the company's intense nurturing of the African market in recent years, especially after the Beijing Summit of the Forum on China-Africa Cooperation held in November 2006.
The biggest contract involved a 1,315-kilometer railway in Nigeria worth US$8.3 billion.
Prior to that, the firm together with CITIC Group procured a speedway project in Algeria for US$6.25 billion.
Li said the firm also teamed up with other enterprises to build a high-speed railway project in Turkey involving an investment of US$1.27 billion. But he declined to disclose the firm's share in the project, saying it is "corporate secret."