China Railway Construction Corp, one of the country's two biggest rail construction contractors by revenue, won a contract to build a stadium for Qatar's World Cup in 2022, the State-owned company announced on Wednesday.

The company will form a joint venture with Qatar-based HBK Contracting Co as main contractor for the stadium in Lusail, a coastal city in Qatar. CRCC will hold 45 percent of the shares in the venture.

The construction period is scheduled for 40 months, and the contract value is $767 million.