China Railway Construction, one of the world's top 500 companies, will be hoping not to kick an own goal following its involvement in Italian soccer club Inter Milan.
State-owned giant CRCC has expanded its presence overseas in recent years and now operates in 48 countries and regions worldwide, according to the company's annual report last year.
Building a stadium for the top Italian football club is the latest step in its 'go global' efforts, which despite the big budget has suffered from a lack of experienced talent and a managerial style that often does not fit into the local culture.
CRCC, listed in both Shanghai and Hong Kong, said last year that it expected to lose about 4.15 billion yuan (HK$5.09 billion) on the construction of a light railway line between Mecca and other cities in Saudi Arabia, the first Middle Eastern project for a Chinese railway company. CRCC had been hoping to use the project as part of its portfolio to win other contracts in the region.
The Saudi line, with a total investment of US$1.77 billion, was to have been put into service in November 2010. But construction costs seriously overran the budget because of unexpected adjustments and changing requirements from the Riyadh government.
Undaunted by the setback, the company has persisted in looking for contracts in the region.
CRCC president Meng Fengchao said earlier this year that China should not reduce its investments in Saudi Arabia, and should continue to accumulate experience in overseas markets.
