(Yicai Global) July 5 -- Hongrun Construction Group Co. [SZE: 002062] has won the bid for a rail transit construction project in Jinhua city in East China's Zhejiang province. Hongrun won the tender with its offer of CNY608.6 million (USD90 million).
Its successful bid for civil construction of a cross-city rail transit project called "02 Section" spans three cities including Jinhua, Yiwu and Dongyang, said the Ningbo-based company in a statement yesterday. It hailed the biding success as a conduit for an entirely new regional market, enabling the company to increase its market competitiveness and share in the rail transit business.
Public data indicated that Hongrun Construction has witnessed steep growth in its orders of rail transit projects amid the rail transit construction wave. The company clinched a raft of programs in June this year, including Guangzhou rail transit civil construction project and Suzhou rail transit civil construction project.
Hongrun Construction saw its closing share price climb 0.50 percent in the A-share market as of midday on Wednesday.