China to Build More Rails
Dean M. Bernardo | | Apr 10, 2014 10:09 AM EDT |
With an economy that remains robust, China is embarking on a mission to ensure that all its cities and production sites are connected by a high speed rail.
The China Railway Corporation (CRC) unveiled plans to lay out 7,000 kilometers of steel tracks for 2014 alone.
The new project is 400 kilometers more than what was originally planned. Four more additional projects were approved from the originally planned 44 projects this year.
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The fixed-asset investments of the CRC were adjusted from the original US $112.3 Billion (700 Billion Yuan) to US $720 Billion (116 Billion Yuan) for this year.
New rail tracks will be built into western and central regions of the country to allow investments currently saturated in the Eastern coastal regions into the interior provinces.
CRC released their modified plans for this year after the State Council approved a proposal to increase and expand this year's railway goals last week.
Under the 12th five year plan from 2011 to 2015, US $310 Billion (1.92 Trillion Yuan) was allocated on the railway's construction that will increase China's new rails into a total of 12,400 kilometers (7,705 miles).
For the first quarter of this year, US $9.84 Billion (61 Billion Yuan) has been spent to complete China's ambitious track laying program.
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