Summary：China Railway Group Limited announced its CNY 14.92 billion contract on June 15, including CNY 2.59 billion iron ore mining contract gained in Venezuela.

China Railway Group Limited announced its CNY 14.92 billion contract on June 15, including CNY 2.59 billion iron ore mining contract gained in Venezuela.

China Railway Tenth Group Co., Ltd., a subsidiary of China Railway Group, signed a five-year iron ore mining contract (July 1, 2012-June 30, 2017) with Venezuela's C.V.G. Ferrominera Orinoco C.A. Contracted value totals USD 413.28 million or CNY 2.59 billion.

Besides, China Railway Southwest Investment Management Group Co., Ltd., under China Railway Group umbrella, signed a construction agreement of transfer with Kunming Rail Transit Co., Ltd. Estimated investment in the project is CNY 7.63 billion, including construction of east bank and west bank of north Caohai Lake area and No.45 and No.46 settlement area. Construction periods of the three subprojects are respectively 18 months. Buyback period of construction and installation cost and original equipment cost of the 3 subprojects is 2 years. Party A can fully repurchase used non-construction and installation cost after 1 year since Party B invests.