CRC plans to increase fixed-asset investment
Print Edition
State-owned railway giant China Railway Corp has announced plans to raise fixed-asset investment to 660 billion yuan (US$106.5 billion) this year to boost railway development.
The amount, 10 billion yuan more than the investment target set earlier this year, has been interpreted as a signal that greater investments will be made in infrastructure to boost the economy, CRC sources said.
About 5,500 kilometers of railway lines will be put into operation, bringing the total length of railways in operation to 100,000km by the end of 2013. Express rails are expected to exceed 10,000km.
In the first seven months of this year, the CRC has invested 261.7 billion yuan in railway fixed assets, up 16 percent year on year.
The company also announced that it has bid more than 50 billion yuan for locomotives, express trains and cargo carriers since its establishment in March.
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