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Sapphire acquiring China-based railway infrastructure firm

Acquisition of Ranken Infrastructure for 360m yuan is part of turnaround strategy

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"We have been quietly working and meeting the local SOEs' managements to explore how we can participate and undertake the projects... via a public-private partnership (PPP) model." - Teh Wing Kwan

Singapore

LOSS-MAKING Sapphire Corporation on Tuesday announced its plans to acquire a China-based engineering, procurement and construction (EPC) business for 360 million yuan (S$75.9 million).

This is part of its corporate turnaround strategy to grow via railway infrastructure

sentifi.com

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