China Civil Engineering Construction Corp (CCECC) announced on Tuesday it signed a railway contract worth 3.53 billion yuan ($543.6 million) with Iran.
CCECC is a subsidiary of State-owned China Railway Construction Corp (CRCC), a major construction group with business in more than 60 countries and regions around the world, according to its website. CCECC signed the contract with Iran's Construction & Development of Transportation Infrastructures Co to develop a 263-kilometer railway, according to an announcement CRCC sent to the Shenzhen Stock Exchange on Tuesday.
The company belongs to the Ministry of Road and Transportation of Iran, the announcement said.
