China Railway Wins $1.7 Billion Rail Construction Contracts

China Railway Group Ltd., Asia's biggest construction company, said two of its subsidiaries won contracts worth 11.5 billion yuan ($1.7 billion) to build segments of the Shijiazhuang-Wuhan railway project.

The contracts, awarded to three of China Railway's subsidiaries, are valued at about 6.4 percent of its revenue in 2007 under Chinese accounting standards, the company said in a statement to the Shanghai Stock Exchange today.

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