Manufacturing News

Central firms to enter railway projects

Investment in national railway infrastructure reached 33.77 billion yuan ($5.334 billion) in May, reported Economic Information Daily on Thursday, citing a statement published on the Ministry of Railways’ official website.

According to the report, investment saw a year-on-year 20.1 percent drop compared to last year's 42.3 billion yuan. But the figure increased 16 percent month-on-month.

From January to May 2012, railway infrastructure investment achieved a total of 105.48 billion yuan nationwide, the report added.

Projects are currently undergoing a gradual recovery process, and some sites that were originally halted have now resumed work, industry insiders said.

Since the second half of 2011, funding problems for railway construction attracted a lot of attention. Centrally-administrated State-owned enterprises have prepared to enter the field.

The State-owned Assets Supervision and Administration Commission is currently coordinating central enterprises’access to railway infrastructure projects.

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