Rail firm expects loss from Mecca project

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.