Sapphire Corporation’s newly acquired rail engineering firm Ranken Infrastructure has secured a CNY373m ($57m) Taiyuan rail infrastructure project in China.
The new project includes designing and developing part of the Taiyuan Metro-Line 2, the city’s first metro line.
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Ranken is a Chinese engineering, procurement and construction (EPC) business, which Sapphire acquired last October in a move to expand into railway and other land transport infrastructure development, having sold its steel business in 2014.
Work under the project will include construction of 1.6km of the 23.4km metro line, including two tunnels and the Xijianhe Station.
Scheduled to be completed within 30 months, the project will connect three train stations Kuangji, the Small Commodities Bazaar and Xijianhe.
Sapphire Group CEO and managing director Teh Wing Kwan said: "The speed with which we have secured another new and sizeable project in Taiyuan underscores Ranken’s successful track record and increasing reach across China.
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By GlobalData"We will continue to strengthen our foothold in the country’s fast-growing rail sector."
Last December, Ranken secured a series of railway infrastructure contracts in Guiyang and Qingdao, as well as a tunnel that is part of the 1,814km Menghua Railway project, worth a combined CNY916m ($139m).
Sapphire expects to recognise revenue from Ranken from the quarter ended 31 December and the subsidiary is expected to be the group’s biggest revenue contributor going forward.
Incorporated in 1998, Ranken has fully integrated Triple-A qualifications and licences for design, construction and project consultation in China’s rail transit sector.
