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China Railway wins US$805 million railway contract in Libya
Source: BI-ME , Author: BI-ME staff
Posted: Wed January 28, 2009 12:00 am
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LIBYA. China Railway Construction Corp is reported to have won a US$ 805 million contract to build a new railway in Libya.

The 172 kilometre line will take around 54 months to complete. No further details have been provided.

The reports in Chinese business media said that the deal follows a US$2.6 billion contract last year to build two other rail lines, a 352 kilometre railway along Libya's Mediterranean coast from Khums to Sirt and an 800 kilometre line in the south from Sebha to Misurata.

The coastal railroad is slated for completion in four years and the southern line should take three years.

MIDDLE EAST BUSINESS COMMENT & ANALYSIS

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INTERNATIONAL. The triangle pattern has taken nearly 9 months so far, and a move over US$19.50 could start a multi-month run targeting US$26-US$29 per ounce for starters before a broad pullback.
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