China to invest S$127 bln in new rail lines this year
CHINA-RAILWAYS/ BEIJING, Jan 9 (Reuters) - China will spend over US$100 billion (S@127 billion) on more than 6,600 km of new railway lines this year, Xinhua news agency said, citing a senior industry official.
The general manager of the state-owned China Railway Corporation (CRC), Sheng Guangxu, was quoted as saying that the bulk of the 630 billion yuan investment would be in the underdeveloped central and western regions.
It said CRC had already put 5,586 km of rail lines into operation since its formation last March following the dissolution of the Ministry of Railways.
China abolished the ministry in March and transferred its regulatory duties to the Ministry of Transportation.