Raffles Infrastructure unit inks preliminary pact for 6b yuan China rail project

Singapore

RAFFLES Infrastructure Holdings, formerly known as China Fibretech, said on Monday afternoon that it has entered into a framework agreement to build about 70 km of tourist railways in China with an estimated contract value of six billion yuan (S$1.19 billion). It later provided a breakdown of the contract value of each of the project's four phases in a press release after market close.

Raffles Infrastructure's subsidiary Raffles (Chengdu) Investment and Development Co inked the preliminary agreement on Oct 19 with the Tourism Board of the People's Government of Dengfeng City and Chengdu Tianfu Railtech Valley Technology Co.