New railway construction firm set up

China Railway Construction Corp (International) Ltd was established by China Railway Construction Corporation Limited on Wednesday with an investment of 3 billion yuan ($482 million), in a move to expand financing, planning, surveying, design and the construction business for overseas projects.

Meng Fengchao, chairman of CRCC, said the new-established CRCC International company will strengthen communications domestically and abroad to introduce Chinese design, construction, manufacturing equipment, techniques, standards and logistics to foreign markets.

CRCC is one of the largest construction conglomerates in the world and also China's largest international construction contractor.

CRCC International will focus on the integration of design, financing, construction, management, operation and maintenance businesses of CRCC abroad, according to Meng.

baochang@chinadaily.com.cn