China Railway Materials Commercial Corporation (CRM) received a 10 billion yuan (US$1.46 billion) credit line from Agricultural Bank of China on March 9, according to a statement on the website of State-owned Assets Supervision and Administration Commission (SASAC).
As one of the 141 Stated-owned companies under the supervision of SASAC, CRM is China's main provider of railway construction materials, such as rails, locomotive and rolling stock spare parts.
It is also involved in businesses ranging from warehousing and logistics to real estate.
The group's operating revenue rose 26.8 percent year-on-year to 100.2 billion yuan in 2008, according to its website.
(China Daily March 11, 2009)
