Bloomberg News

China Railway Construction Wins $1.6 Billion of Project Orders

November 16, 2011

Nov. 17 (Bloomberg) -- China Railway Construction Corp. won 10.4 billion yuan ($1.6 billion) of contracts to projects in Hebei and Shanxi provinces, the company said in a statement to the Shanghai Stock Exchange yesterday.

Projects included a dam in Hebei province and upgrading a slum in Shanxi province, it said. The company’s stock fell 2.9 percent, the most in almost a month, to close at 4.69 yuan in Shanghai yesterday before the announcement.

China’s spending on railway construction in the first 10 months fell 28 percent from the same period a year ago to 367.4 billion yuan, according to a statement on the Ministry of Railways website Nov. 15.

The country’s railroads carried 1.6 billion people in the January to October period, a 11.2 percent increase from a year ago, the statement said.

--Feiwen Rong. Editors: Nicholas Wadhams, Joshua Fellman

To contact Bloomberg News staff for this story: Feiwen Rong in Beijing at frong2@bloomberg.net

To contact the editor responsible for this story: Richard Dobson at rdobson4@bloomberg.net


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