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July 25, 2017

Sapphire’s Ranken Railway receives $45m of new metro contracts in China

Sapphire's engineering, procurement and construction (EPC) subsidiary Ranken Railway Construction Group has secured new infrastructure contracts in China worth nearly RMB308m ($45m).

Sapphire's engineering, procurement and construction (EPC) subsidiary Ranken Railway Construction Group has secured new infrastructure contracts in China worth nearly RMB308m ($45m).

The newly awarded contracts include a RMB224m ($33m) civil engineering contract for the Ningbo Rail Transit Line, which will see works carried out on the Pan Song Section, Song Nan Section and Nan Jin Section.

Ranken will also conduct design consultancy works for the second phase of Taiyuan City’s Metro Line 2 as part of a contract valued at RMB37m ($5m). 

The company previously secured design and build deals worth an estimated RMB673m ($99m) for the Metro Line’s first phase of development.

Ranken also intends to apply for construction contracts for the second phase of the metro line once the tender process is underway.

"Ranken’s strong execution capabilities and track records deepen its involvement in the mainland."

In addition, Ranken has also been awarded RMB47m ($6.96m) contracts involving inspection and construction works for a part of the Chengdu Metro Line No. 17, as well as a section of Hefei Rail Transit Line No. 5.

Sapphire Group CEO and managing director Teh Wing Kwan said: “Ranken’s strong execution capabilities and track records deepen its involvement in the mainland municipalities’ master plan for urban infrastructure, expanding our role in the development of up-and-coming Chinese cities such as Taiyuan.”

The Taiyuan extension is expected to be finished by the end of 2021, and all the other contracted works are scheduled to be completed over the next 36 months.

Ranken previously secured contracts worth a total of RMB432m ($64m) in April for works to be carried out in China, comprising RMB42m ($50m) of transport infrastructure projects, in addition to several design consultancy contracts worth a combined RMB90m ($14m).

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