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China Rail Erju, Lehman unit to set up $41m JV

China Railway Erju wins 5.5b yuan in bids

By Tong Hao (chinadaily.com.cn)
Updated: 2009-03-13 15:45

China Railway Erju Co, a Chengdu-based contractor on traffic and civil construction projects, has won bids worth 5.5 billion yuan, the company said.

The 11 projects include construction of the railway, subway, expressway and airport in Guizhou, Shaanxi and other provinces, according to a statement the Shanghai-listed company filed on Friday.

The largest project is the upgrade of Nanning Railway from Yongzhou to Liuzhou, which lasts 36 months with an investment of 2.27 billion yuan.

The company realized a net profit of 308 million yuan in the first three quarters of last year, a 27.36 percent increase year-on-year, while its business revenue increased by 12.9 percent to 15.76 billion yuan, according to its third-quarter financial report.

The construction company has yet to release its full-year earnings report.

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