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China builds its first PPP high-speed railway

Xinhua | Updated: 2021-06-22 16:37
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Workers lay tracks on the Hangzhou-Shaoxing-Taizhou High-speed Railway in Linhai, Zhejiang province, on Feb 1, 2021. Connecting three major cities in Zhejiang, it is China's first high-speed railway in which private capital holds a majority of shares. [Photo/Xinhua]

HANGZHOU - China's first high-speed railway controlled by private capital has been built to connect several cities in East China's Zhejiang province.

On Tuesday, the tracks were completed for the Hangzhou-Shaoxing-Taizhou intercity railway, one of China's first group of high-speed railway projects funded by a public-private partnership (PPP), with the private sector having a holding status.

With a total investment of nearly 44.9 billion yuan (about $6.95 billion), the 266.9 km rail line has been designed with eight stops and a speed of 350 km per hour.

The new rail line will be opened by the end of this year and will be connected to the high-speed railway network in the Yangtze River Delta region. It will halve the travel time between Hangzhou and Taizhou to approximately one hour.

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