China Railway Group, the country's largest railway and highways builder, expects to generate CNY210bn of sales in 2008, up 16% from a year earlier, on the back of China's infrastructure construction boom, the Securities Times reported on Thursday, citing Chairman Shi Dahua.
China Railway will try to cap operation costs at CNY188.4bn, and sign new contracts totalling CNY275bn for the whole year, said the newspaper, a publication affiliated with the Shenzhen Stock Exchange.
China Railway will also expand into real estate development and seek more orders from overseas markets such as Africa and South East Asia. The company expects overseas sales to account for 10% of total this year, but the newspaper gave no comparative figures.
By Samuel Shen, Reuters
