SINGAPORE (Sept 28): Sapphire Corporation announced it has secured a $92 million contract to build part of Beijing’s metro railway system.

Wholly owned subsidiary Ranken Infrastructure will undertake work for 834m of the 29.6km Beijing Metro line 12. The project is slated for completion in over four years and is expected to have a positive impact on the company’s financial performance from FY 17.

“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,” says Teh Wing Kean, Sapphire’s chief executive officer and managing director.

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