China Railway Inks $1B Deal To Build Nigerian Road

Law360, New York (November 5, 2013, 5:47 PM EST) -- China Railway Construction Corp. Ltd. has signed a contract with Nigeria's Ministry of Niger Delta Affairs to build a $1.07 billion road in the area, the company told the Hong Kong Stock Exchange on Tuesday.

"The contract is a turnkey contract involving design and construction with a construction period of five years," China Railway's board of directors wrote in its brief announcement. The cost of the project represents 1.37 percent of the company's operating revenue, China Railway added.

The company, which is involved in the $8.3...
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