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30 May 2023

China builder wins SAR6.7bn Saudi contract

By Staff Writer

China Railway Construction Corp, builder of more than half of the nation's railroads, won a SAR6.7 billion (Dh6.5bn) contract to lay an 18kilometre line in the Kingdom of Saudi Arabia, according to agencies.

The track is due to open in October 2010, the Beijing-based company said in a Shanghai stock exchange statement today.

The rail project will link religious sites around the Holy cities of Mecca and Madina, Saudi Press Agency reported.

The contract value is equal to 6.8 per cent of China Railway's revenue in 2007, according to the company statement.

Chinese President Hu Jintao is in Saudi Arabia on a three-day tour.

The visit is aimed at securing energy supplies to fuel China's economic growth, according to media reports.