Home Transport China’s first PPP high-speed railway opens

China’s first PPP high-speed railway opens

174
0


The Hangzhou-Shaoxing-Taizhou inter-city railway service in East China’s Zhejiang Province, the first Chinese high-speed railway controlled by private capital, officially began on Saturday. The launch of the railway marked another successful implementation of China’s public-private partnership (PPP) project in the infrastructure field.

With an investment of 44.9 billion yuan ($7 billion), the railway section starts from Hangzhou, capital of Zhejiang, and passes through Shaoxing and Taizhou in the province, stretching 266.9 kilometers. It has a designed speed of 350 kilometers per hour.

The new line is an important project to help boost the regional integrated development of the Yangtze River Delta. It is expected to halve travel time between Hangzhou and Taizhou to about one hour, the Global Times learned from China National Railway Corporation on Friday.

It is the first Chinese high-speed rail line controlled by private capital. A private consortium led by Fosun Group holds 51 percent of the shares while China National Railway Corporation and the local government hold 49 percent, CCTV reported.

The PPP project is an example of win-win cooperation between the government and private capital, said Zhou Huafu, a member of the Zhejiang Provincial Development and Reform Commission, who oversaw the project.
Global Times

LEAVE A REPLY

Please enter your comment!
Please enter your name here