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China approves seven railway projects; total investment hits 200 bln yuan

Date:15/12/2014   View: 942   Tags: China; Railway projects
China’s National Development and Reform Commission announced approval for seven railway projects on November 5, with a total investment of 199.86 billion yuan ($32.66 billion).

Of this, 53.25 billion yuan will be invested in the Nanchang-Ganzhou railway in central China’s Jiangxi province and 46.46 billion yuan in the Lianyungang-Zhenjiang railway in southeastern Jiangsu province.

China is far behind its railway investment target of 800 billion yuan set earlier this year, as it completed investment of only 456.3 billion yuan or 57.04% of the target in the first three quarters, though up 23.4% year on year, showed data from the Ministry of Transport.

The government plans to kick off construction on 64 new railway projects by the end of the year, according to China Railway Corporation.

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