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

China State Construction Engineering Corp 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 (MoU) 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.