A Chinese construction company said Thursday it has won a bid to renovate a railway section in Montenegro, the latest step by Chinese firms in exploring the overseas rail market.
China Civil Engineering Construction Corporation (CCECC), a subsidiary of China Railway Construction Corporation, said it will repair 9.86 km of rail tracks between Kolasin and Kos in the southeastern European country.
The project will be funded by the European Bank for Reconstruction and Development. The CCECC called the project a "breakthrough," saying it paved the way for the company to enter central and eastern European markets.
Chinese firms have accelerated exporting railway technology and construction skills overseas in recent years. The CCECC was among a consortium of Chinese and Turkish firms that built a 533-km high-speed railway linking Ankara and Istanbul in Turkey completed last year.
In June this year, a consortium of Chinese and Russian companies agreed on a contract worth 20.8 billion rubles (around 380 million U.S. dollars) with Russian Railways on pre-construction surveys and design for 770 km of track linking Moscow and Kazan. It will be the first time Chinese-developed railway technology is used abroad.
Latest comments