Business / Industries

NDRC approves $34b railway investment

( Updated: 2014-12-23 11:24

The National Development and Reform Commission (NDRC) approved two railway projects on Monday, with total investment of 209 billion yuan ($34.1 billion), reported Securities Times.

The projects include railway constructions with a targeted input of 78.8 billion yuan in Hefei, capital of Anhui province, and 130.5 billion yuan in cities in Zhejiang province.

The recent green light comes after the NDRC approved a swathe of other infrastructure projects in October and November. China's fixed-asset investment in railway sector has reached 1300 billion yuan so far this year, said the Times.

Fixed-asset investments are expected catch up significantly in the fourth quarter, according to a report by Nomura in November.

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