Australia, China sign $10b worth of deals
22 Jun 2010
Source: Today
10 deals inked yesterday between Australia and China include engineering and procurement agreements between Australia's Fortescue Metals and China Gezhouba Group and an agreement between Karara Mining and China Development Bank for rail and port construction in Oakajee, Western Australia.
The development bank also reached an agreement with Aquila Resources to expand coal and iron ore projects in the Pilbara in Western Australia. The accords included Telstra Corp, Australia's largest phone company, becoming the preferred supplier to ZTE Corp and a coal project near Bowen in Queensland that Prime Minister Kevin Rudd said would create A$4 billion in exports every year for 25 years.
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