China Railway gets $7.5b global order

China Railway Group Ltd said it would consider undertaking a $7.5-billion railway project contract won by its parent company in Venezuela, which would be the biggest overseas contract the railway builder has ever undertaken in its history.

The mega contract is also the latest sign of the growing prowess of Chinese railway builders in the global construction business arena.

The country's biggest railway and highway builder said a subsidiary of its parent company China Railway Engineering Corp has been appointed by the Venezuela Railway Authority as the contractor to design and build the 468-km railway in the South American country for $7.5 billion.