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Daqin Railway to buy 70pct stake in Taixing Railway for RMB3.158 bln

BEIJING
2015-11-24 21:17

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Daqin Railway Co., Ltd (601006.SH) on Tuesday announced a plan to purchase a 70-percent stake in Shanxi Taixing Railway Co., Ltd for 3.158 billion yuan.

Daqin Railway Co. will inject assets of the Taigulan railway into Shanxi Taixing Railway Co. The assets are valued at 746 million yuan. Shanxi Taixing Railway Co. is in charge of construction and operation of the Taiyuan-Xingxian railway. Construction of the 163.4km railway is close to completion.

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