China Railway secures $1.5 bln in rail contracts

HONG KONG, June 4 (Reuters) - China Railway Group (601390.SS)(601390.SS)(0390.HK), the country's largest railway and highway builder, said it had won five railway contruction contracts worth 10.1 billion yuan ($1.48 billion).

The railway builder said late on Wednesday the value of the contracts represented about 4.31 percent of its revenues in 2008 according to Chinese accounting standards. It gave no further details.

President Li Changjin had in April estimated the company's revenue would rise by nearly a quarter to 280 billion yuan this year from about 225 billion yuan in 2008. (US$1=HK$7.8=6.829 yuan) (Reporting by Donny Kwok; Editing by Ken Wills)