BIZCHINA> Impacts
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BIZCHINA> Impacts
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Foreign investors want to benefit from China's railway
(chinanews.cn)
Updated: 2007-04-23 17:02 On April 18, China started to raise train speed for the sixth time. In order to realize this goal, China had added 29.6 billion yuan of investment.
According to China's Mid- and Long-term Railway Development Plan, by 2020 the total mileage of China's railway system will reach 100,000 kilometers. This means that two trillion yuan of construction capital will be needed to reach the goal. In the 13 years to come, China will need 153.8 billion yuan of financing input every year in railway construction—a lucrative market that will attract many foreign companies. In face of this great opportunities, Bombardier Transportation, a global company headquartered in Canada, recently said that they regarded China as their long-term strategic partner. Early in 2004, Bombardier Transportation had signed a strategic partnership agreement with Chinese Ministry of Railways and the company had made a long-term development plan for China. Earlier this year, Bombardier won the first round of bid for locomotives held by the Ministry of Railways. The Ministry of Railways signed a purchase agreement for 500 large-power electric locomotives with Dalian Locomotive and Rolling Stock Co Ltd, that introduced Bombardier’s technologies. The agreement involved a total capital of 11.3 billion yuan. (For more biz stories, please visit Industries)
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