 |
 |
 |
 |
 |
 |
 |
 |
 |
 |
| . |  |
. |
Beijing-Shanghai high-speed rail delayed by years: ministry
Beijing (AFP) Dec 8, 2007 A planned high-speed rail line between Beijing and Shanghai is unlikely to be completed until at least 2013, China's government has said, in the latest setback for the long-delayed project. A notice on the website of the national railway ministry on Saturday also said the ministry will take a 78.9 percent stake in an investment vehicle formed to finance the project, whose ballooning costs have fuelled delays. The line is expected to take five years to complete, the notice said, meaning it will not be operational for the 2010 World Expo to be hosted by Shanghai, China's commercial hub, as originally hoped. The project was first proposed in 1994 and was originally supposed to be completed before the 2008 Beijing Olympics. As delays mounted, the government later set its sights on completion in time for the Shanghai expo. China's railway minister had said in September that construction would begin "soon" but no specific date was given. Trains on the 1,300-kilometre (800-mile) line will run at speeds of up to 350 kilometres per hour, halving travel time between China's two dominant cities to less than five hours, state media has reported previously. The project, which has been on the drawing board for more than 10 years was expected to start construction last year but has been delayed by the central government as costs spiralled. It finally won approval in September with a budget nearly twice the initial estimate of 130 billion yuan (17.3 billion dollars). The ministry notice gave no information on how much the investment vehicle would raise. Rising real estate and construction material prices have been blamed for the soaring budget. Community Email This Article Comment On This Article Related Links Great Train Journey's of the 21st Century
China Railway raises three billion dollars on record bookings
Shanghai (AFP) Nov 23, 2007China Railway Group raised 22.44 billion yuan (three billion dollars) from its initial public offering as it attracted a record 450 billion dollars in bookings, state press reported Friday. |
|
|
| The content herein, unless otherwise known to be public domain, are Copyright 1995-2007 - SpaceDaily.AFP and UPI Wire Stories are copyright Agence France-Presse and United Press International. ESA Portal Reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement,agreement or approval of any opinions, statements or information provided by SpaceDaily on any Web page published or hosted by SpaceDaily. Privacy Statement |
