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BIZCHINA / Center |
Railway firms win bids for Beijing-Shanghai line(Agencies)
Updated: 2008-01-07 15:20 China Railway Construction Corp and China Railway Group Ltd are among four domestic companies that have won bids for more than 80 billion yuan ($11 billion) worth of construction contracts for a Beijing-Shanghai high-speed railway. Contracts for the project are divided into six sections and China Railway Construction has won its bid for the two largest contracts worth 33.7 billion yuan and make up 40 percent of the total project, the official Xinhua News Agency reported over the weekend. China Railway Group won a bid for 22 billion yuan worth of contracts, or 26 percent of the total. Sinohydro Corp and China Communications Construction Co Ltd respectively won bids for contracts worth 14.3 billion yuan and 13.7 billion yuan. The Chinese government plans to build a Beijing-Shanghai high-speed line that would cut the trip between China's capital and its financial hub to five hours from 12, earlier media have reported. Trains on the 1,320 km line would run at speeds of up to 350 km per hour , which would become China's highest-speed railway, according to earlier reports.
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