China's railway giant gains ground in Africa with $5.5bn contracts
The company won contracts in Nigeria and Zimbabwe
China Railway Construction Corp Ltd (CRCC) announced late on Monday and on Tuesday it had signed two deals worth $5.5bn (£3.6bn) for construction projects in Africa.
CRCC’s subsidiary China Civil Engineering Construction (CCECC) Nigeria won a $3.51bn (£2.3bn) contract to build a intercity line in the country's southwestern Ogun state.
The company also won a contract in order to build the Magamba 2015 Housing Project from the Zimbabwean Ministry of Local Government, Public Works and National Housing worth US$1.93 billion (£1.27bn).
This deal is a great achievement in its 'going global' strategy
CRCC's Chairman Meng Fengchao pointed out that both deals were a great achievement in the company's "going global" strategy.
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