Sapphire secures $92m Beijing metro contract

It is for the construction of a 20-station metro line.

Two months after winning contracts to design and build metro lines in several Chinese Cities, Singapore mainboard-listed Sapphire corporation has secured yet again another railway project, this time for a 20-station metro line in Beijing.

The $92 million contract was awarded to Sapphire's wholly owned engineering and construction subsidiary, Ranken Infrastructure Ltd. It will undertake civil engineering works for 834m of the 29.6km Beijing Metro Line 12, which runs through four districts in North Beijing.

According to Sapphire Director Teh Wing Kwan, the group expects this contract to have a positive impact on the group's financial performance from FY 2017 onwards.

“Beijing has one of the world’s busiest rail networks. This new Beijing Metro Line contract is an extension of our involvement in the development of the capital city’s metro network, which reaffirms our strong track record in China’s rail infrastructure sector,” Teh said.

The contract is slated for completion in over four years.