HK Stock Market Move | CRRC Corporation (01766) up by over 3% recently, winning the bid for the Dubai Blue Line project.

CRRC Corporation (01766) rose by over 3%, reaching a 2.76% increase to HK$4.84 by the time of this report, with a trading volume of HK$54.0742 million. In recent news, the Dubai Roads and Transport Authority officially announced that the Dubai Metro Blue Line project was awarded to a consortium including CRRC Corporation. The Dubai Metro Blue Line project is part of the "Dubai 2040" urban masterplan, with several global companies, including CRRC Corporation, participating in the bidding process. Ultimately, the consortium including CRRC Corporation won the project bid. The contract for the project is valued at approximately USD 5.6 billion, and covers activities such as route design, construction, testing, system maintenance, and vehicle supply. The head of CRRC Corporation stated that winning this bid marks a breakthrough for the company in the high-end market of Gulf Arab countries, and demonstrates their commitment to the high-quality development of the Belt and Road Initiative. The Dubai Metro Blue Line is planned to commence operations in 2029.