Chinese rail firm signs $3.5 billion worth of deals in Ogun

China Railway Construction Corp Ltd (CRCC) has signed two deals worth a combined $5.5 billion for construction projects in Africa.

CRCC’s China Civil Engineering Construction Corporation (CCECC) unit will work on a $3.5 billion intercity railway line in Nigeria’s southwestern Ogun state, Xinhua said, citing the area’s state governor, Ibikunle Amosun.

CRCC also signed a $1.93 billion deal to build a residential construction project in Zimbabwe, Xinhua added.

Beijing is pushing to make its firms more competitive globally, with an ongoing merger of the country’s top two train-makers set to create a $26 billion behemoth that will be able to compete with international rivals.

Meng Fengchao, the board chairman of CRCC, told Xinhua the deals were a milestone in the “going global” strategy of China’s railway firms.