2,000 bln yuan to be invested in expanding railways

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Last updated at: (Beijing Time) Thursday, April 08, 2004

2,000 bln yuan to be invested in expanding railways

A senior official said here Thursday that China will invest 2,000 billion yuan (241 billion US dollars) in building railways nationwide by the end of 2020.

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A senior official said Thursday that China will invest 2,000 billion yuan (241 billion US dollars) in building railways nationwide by the end of 2020.

At a press conference organized by the Ministry of Railways, Hu Yadong, vice minister of Railways, said that the funds might be from the government and also foreign investors.

The ministry has outlined a long-term plan to the year of 2020 on development of the railways. By the end of 2020, Hu said, the total railways available for transport will be increased to 100,000 kilometers from 73,000 kilometers.

According to the plan, the ministry would partly separate passenger and freight transportation.

Railways specially designed for passenger transportation, with a length of 12,000 kilometers, would be built up in coming years, Hu said.

Hu said foreign investors will be welcomed for the railway construction.

Source: Xinhua

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