China Railway Group said on Monday in a filing to the Shanghai Stock Exchange that it plans to invest $1.9 million to set up a company in the United States.

China Railway Eryuan Engineering Group, a partner of China Railway Group, plans to invest $500,000 in the venture.

The two companies will hold a combined 24 percent stake in the new company, said the filing, which did not identify the remaining shareholders.

China Railway's business spans many sectors including survey design, construction and installation, industrial manufacturing, real estate development, mineral resources and other fields.