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Sapphire acquiring China-based railway infrastructure firm

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

Published Tue, Nov 25, 2014 · 09:50 PM

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 and engineering projects, a sector which it sees as very promising.

In January, i…

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