China will increase railway fixed asset investment to 720 billion yuan ($117.09 billion) in 2014, said Sheng Guangzu, General Manager of the China Railway Corp. (CRC).
Sheng said the corporation was increasing investment to meet demand. Forty-nine new projects and over 7,000 km of new railway lines will be put into operation this year.
The former plan set at the beginning of the year targeted 700 billion yuan ($113 billion) of fixed asset investment, 44 new projects and 6,600 km of new railway lines, according to the CRC.
Sheng said that 78 percent of all construction investment will go to the central and western regions, which will be the site of 86 percent of this year's newly operated railways.
According to a five-year plan from 2011 to 2015, 230,000 km of new railway lines will be built in central and western regions, with an investment of 1.85 trillion yuan ($300 billion).
Sheng said from 2011 to 2013, 1.15 trillion yuan ($190 billion) had been invested in the regions. |