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Sapphire acquiring China-based railway infrastructure firm

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

"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


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