Reuters logo
China to spend over $50 billion on 14 railway projects: report
July 1, 2014 / 1:06 AM / in 3 years

China to spend over $50 billion on 14 railway projects: report

SHANGHAI (Reuters) - China will spend 327 billion yuan ($52.71 billion) on 14 railway projects, the official China Securities Journal reported on Tuesday, as the country pushes ahead in transforming its transportation sector.

The projects will total over 3,700 kilometers and will include the Ejin-Hami, Hangzhou-Huangshan, Beijing-Shenyang passenger lines, the report said, citing unidentified government officials. It did not give a timeframe.

The state-owned China Railway Corporation (CRC) has already put 5,586 km of rail lines into operation since its formation in March 2013 following the dissolution of the Ministry of Railways, the official Xinhua news agency reported in March.

China abolished the ministry in March and transferred its regulatory duties to the Ministry of Transportation.

The sector was plagued with allegations of waste and corruption that culminated in the sentencing of former minister Liu Zhijun in July on charges of bribery and abuse of power.

China had more than 100,000 km of railway in operation by the end of 2013, 10 percent of which was for high speed trains, Xinhua said.

Reporting by Kazunori Takada; Editing by Kim Coghill

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below