Shenzhen-based Zhongji Industrial Corp acquires the State-owned Luoding Railway Corp will allow for the construction of the Luoding-Cenxi railway to resume, China Daily reported. The deal is finalized at 41.86 million yuan (US$5.16 million).The agreement was signed on the condition that the Shenzhen firm would take over all of Luoding's debts worth 846 million yuan (US$104.32 million), and would secure an 84-per-cent stake in a 62-kilometre stretch of railway from Chunwan to Luoding, said the paper."For Zhongji, as well as winning the massive project to extend the railway to Cenxi in Southwest China's Guangxi Zhuang Autonomous Region, the deal will enable our firm to profit from transportation and other logistics services," said Zhongji President Cheng Qingbo.