Rail firm expects loss from Mecca project | South China Morning Post
  • Wed
  • Apr 1, 2015
  • Updated: 10:48pm

Rail firm expects loss from Mecca project

PUBLISHED : Tuesday, 26 October, 2010, 12:00am
UPDATED : Tuesday, 26 October, 2010, 12:00am
 

China Railway Construction Corporation expects to incur a total loss of roughly 4.15 billion yuan (HK$4.82 billion) from the Mecca Light Rail Project, a metro light railway designed to serve Muslim pilgrims to Mecca in Saudi Arabia. The contract value of the project is 12.07 billion yuan, but the total cost is estimated at 16.07 billion yuan. Together with finance costs of 154 million yuan, that leads to an estimated loss of 4.15 billion yuan.

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