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China inks $5.5b infrastructure construction contracts in Africa

Updated: Apr 28,2015 7:41 AM     Xinhua

BEIJING — Two big construction orders in Africa totaling nearly $5.5 billion have been signed by China’ largest railway constructor, China Railway Construction Corp (CRCC).

The contracts, signed by CRCC China-Africa Construction LTD., a wholly-owned subsidiary of CRCC, include a $3.506 billion contract for an intercity railway project in Nigeria and a $1.93 billion residential construction project in Zimbabwe.

The Nigerian project further cements the company’s leading role in the Nigerian construction industry, and is also a milestone in the “going global” of Chinese railway, said Meng Fengchao, board chairman of CRCC.

CRCC China-Africa Construction LTD. is now the largest rail transit contractor in Africa.