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October 15, 2017

Sapphire wins $130m rail infrastructure contracts in China

Singapore-based Sapphire's subsidiary Ranken Railway Construction Group has secured two new contracts for municipal metro and rail transit lines in China, which have a combined value of nearly RMB856m ($130m).

Singapore-based Sapphire's subsidiary Ranken Railway Construction Group has secured two new contracts for municipal metro and rail transit lines in China, which have a combined value of nearly RMB856m ($130m).

The first contract involves the construction of two stations, Ganjingzi Station and Shanhua Street Station, along the 24.5km-long Dalian Metro Line 5 (M5).

Ranken will also develop a new section connecting Ganjingzi Station to Shanhua Street Station as part of the nearly RMB561m ($86m) deal, as well as another network connecting Ganjingzi Station to Barracuda Bay Station.

The M5 project is scheduled to be completed in November 2019 and will connect to Dalian Metro North-South Line 1, which will also link to the currently under-construction Jinzhouwan International Airport.

The scope of the second contract includes the development of a 3.6km interval between the International Airport Station and Terminal 4 for the second phase of Urumqi Airport Rail Transit Line 2.

"The rail network is still expanding fast and will cover most of the main cities under the existing infrastructure plans in China."

Construction of the entire 13.35km-long line is scheduled to be completed in December 2019. It will comprise a total of six stations.

Sapphire Group CEO and managing director Teh Wing Kwan said: “The rail network is still expanding fast and will cover most of the main cities under the existing infrastructure plans in China.

“These recent projects have expanded Ranken’s railway contract portfolio by more than RMB1bn in just one month.”

Ranken also won a RMB276m ($42m) contract for Beijing’s metro extension project last month.

The company has secured RMB1.9bn ($290m) worth of new projects this year with the addition of the latest two contracts.

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