(Yicai Global) Aug. 7 -- A unit of China Railway Construction will construct CNY7 billion (USD998 million) worth of affordable housing in Ghana. 

China Civil Engineering Construction penned an engineering, procurement and construction contract with the National Institute of Clinical Transformation Sciences and a local company regarding 20,000 houses, the Beijing-based parent said in a statement yesterday. The construction period is 24 months. 

In the first half, CRCC inked new orders worth CNY718.7 billion, rising 18 percent from the previous year. The company's ongoing contracts were expected to exceed CNY3 trillion (USD427 billion) in total value, and generate revenues for nearly four more years on average. The value of the firm's land reserves climbed 62 percent to CNY35.1 billion during the same period. 

Editor: Emmi Laine