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No listing plans for Beijing-Shanghai rail express: official

(chinadaily.com.cn)
Updated: 2009-07-30 16:24

There are no plans for the Beijing-Shanghai High-Speed Railway to get listed, Zhang Shuguang, a senior official from the Ministry of Railways announced at a press conference, eastday.com reported Thursday.

Previous rumors had it that the Beijing-Shanghai High-Speed Railway and the Beijing-Shanghai Railway would go public together with a total asset of 300 billion yuan (US$ 44 billion).

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But Zhang noted the new rail line has a great advantage in terms of its geographic position, and it’s likely to become the most profitable railway in the world.

“Once the express [railway] gets listed, it’s surely going to be profitable,” Zhang said.

Construction of the new express Beijing-Shanghai Railway began on April 18, 2008 and is projected to be completed on time to begin operation in 2012.

The high-speed train has a designed speed of 350 kilometers per hour, and it will only take about four hours to travel the 1,318 kilometer-long rail line between Beijing and Shanghai.