China Railway Signs Iron Ore Development Contract in Venezuela
OREANDA-NEWS. June 21, 2012. China Railway Group announced its 14.92 billion yuan contract on June 15 2012, including an iron ore development agreement worth 2.59 billion yuan in Venezuela.
China Railway Tenth Group Co Limited, a subsidiary of China Railway Group, signed a five-year iron ore mining contract (from July 1 2012 to June 30 2017) with Venezuela's CVG Ferrominera Orinoco CA.
Total investment amounts to USD413.28 million or 2.59 billion yuan.