(Yicai Global) July 4 -- China's largest railway constructor, China Railway Group Ltd. (CREC) [SH.601390; HK:00390], will partner up with the government of Taiyuan in central China's Shanxi province to co-develop the city's infrastructure facilities. The size of the partnership is estimated to be around CNY100 billion (USD14.7 billion).

The partnership will cover construction of infrastructure facilities such as urban roads, motorways, rail transit and underground pipelines and urban complexes. Joint projects will be conducted under the public-private partnership (PPP), build-operate-transfer (BOT), engineering-procurement-construction (EPC) and general contracting models, the company said in a statement yesterday.

The two sides will decide on the specific projects through consultation, the statement added. Taiyuan is the capital of Shanxi province, the largest coal producing province in China.

CREC surged 0.35 percent on the A-share market, and closed flat after falling from intraday highs on the H-share market.