China ap­proves $8.44b ur­ban rail­way projects

The Pak Banker - - BUSINESS -

SHANG­HAI: China has ap­proved con­struc­tion plans for two ur­ban rail­way projects with a to­tal in­vest­ment value of 55.0 bil­lion yuan ($8.44 bil­lion), the coun­try's top eco­nomic plan­ner said in state­ments on its web­site on Thurs­day. The projects in­clude a 16.1 bil­lion yuan ur­ban rail­way in Wuhu, a city in the south­east­ern An­hui prov­ince. An­other pro­ject, worth 38.9 bil­lion yuan, is an ur­ban rail­way in Xi'an, a city in the cen­tral Shaanxi prov­ince. Bei­jing has ap­proved bil­lions of dol­lars in in­fra­struc­ture projects in re­cent months to stem a sharp eco­nomic slow­down. The govern­ment has been par­tic­u­larly keen on projects in the less-de­vel­oped western part of the coun­try.

Newspapers in English

Newspapers from Pakistan

© PressReader. All rights reserved.