Jilin woos overseas investment for new railway projects

Updated: 2007-09-05 09:17

Jilin Province in Northeast China urges overseas investors to invest in the province's four planned new railway projects.

Governor Han Changfu asked overseas investors to make good use of the preferential policies the central government has promised to grant in a bid to rejuvenate the industrial rusty belt in Northeast China, namely Liaoning, Jilin and Heilongjiang provinces.

While addressing a news briefing on investment environment introduction and projects for overseas cooperation during the ongoing 3rd Northeast Asia Investment and Trade Expo, Governor Han said financing for construction of the four planned railway projects would be diversified, instead of being monopolized by the State in the past.

The four planned railway projects will include the middle section of a massively invested north-south railway trunk line connecting Harbin, capital of Heilongjiang Province, and Dalian, a port city in Liaoning Province, and a 96.5 km inter-city railway line from Changchun, the provincial capital of Jilin Province, and Jilin City in Jilin Province.  The four railway projects are estimated to cost 13 billion yuan (US$1.72 billion), said Han.

According to Han, if overseas investors choose to make investments in the four new railway projects, they will see easing-ups over stake proportion limits for State and overseas investments and will be allowed to take out a controlling share or make exclusive investments upon approval.

The 3rd Northeast Asia Investment and Trade Expo commenced on Sunday in Changchun, capital of Jilin Province. The five-day expo, with the theme of "opportunity, exchange, cooperation and development", attracted more than 50,000 investors and merchants from 61 countries and regions.

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