China Railway Materials Co., Ltd. (CRM) and China Railway Corporation (CRC)'s international business subsidiary signed an agreement on November 29 on Party-A supplied materials for construction of the China-Laos railway.
The CRM will closely cooperate with the CRC to provide materials and service worth 4 billion yuan for China-Laos railway construction.
The cooperation enables the two companies to take advantages of the brand and intellectual property rights of China's railway and show the strength in engineering consulting, survey, design and construction, and equipment supply, to form a synergy of Chinese railway enterprises in international market.
China-Laos railway is important infrastructure to connect the two countries. It is also a key part of the pan-Asian railroad and the China-proposed Belt and Road Initiative.
The railway starts from the border of China and Laos and arrives in Vientiane city, capital of Laos, stretching 414 kilometers with a total investment of 37.4 billion yuan.
The project is being constructed by Chinese enterprises and expected to complete in about four years.
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