China Railway Construction Corp. (601186), builder of more than half the nation’s railroads, and a partner won rail-construction contracts in Algeria valued at 2.16 billion euros ($3 billion).
The Chinese company will have an 84 percent stake in a 48 month deal worth 1.73 billion euros, it said in a Shanghai Stock Exchange statement today. It will also have a 90 percent stake in a 30 month contract worth 431 million euros, the company added.
Turkish firm Ozgun Construction & Exc. Ltd. will partner with China Railway on both projects.
--Dune Lawrence. Editor: Neil Denslow
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