China Railway Wins $1.7 Billion in Rail Construction Contracts

China Railway Group Ltd., Asia's biggest construction company, said it won three bids, worth 11.4 billion yuan ($1.7 billion), to build segments of the Xiangtang- Putian railway project in southern China.

The winning contracts, awarded to three of China Raiway's subsidiaries, are valued about 6.3 percent of its operating income in 2007 under Chinese accounting standards, the company said in a statement to the Shanghai Stock Exchange today.

To contact the reporter on this story: William Bi in Beijing at wbi@bloomberg.net

To contact the editor responsible for this story: James Poole at jpoole4@Bloomberg.net

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