Rail investment to hit record next year

Updated: 2012-11-08 14:31

By BAO CHANG (chinadaily.com.cn)

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China's railway infrastructure investment is set to reach a new high next year, with an estimated investment value of more than 516 billion yuan ($82.66 billion). Both the investment and operation mileage will exceed those of this year, Chinese media reported.

The expansion of railway construction will be funded by 150 billion yuan of railroading bonds, government's financial support and bank credit capital.

Data from the Ministry of Railways show that the railway infrastructure investment reached 69.77 billion yuan in October, more than triple that of last year.

During the 12th Five-Year Plan (2011-2015), the investment in railway infrastructure is poised to reach 2.3 trillion yuan and the length of railway lines in service will reach 120,000 kilometers.