Australian group lines up China backing for new iron ore rail, port

MELBOURNE, March 24 (Reuters) - China State Construction Engineering Corp Ltd 601668.SS has tentatively agreed to build a new port and rail line for a yet-to-be-approved iron ore mine in Western Australia, according to a memorandum of understanding with privately-owned New Zealand firm BBI Group.

The MOU, tied to a A$6 billion ($4.6 billion) mine, rail and port project, was signed on Friday in a ceremony attended by Chinese Premier Li Keqiang and Australian Prime Minister Malcolm Turnbull, BBI Group said in statement.

($1 = 1.3104 Australian dollars)



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