Chinese Province Seeks Private Funds for Rail Programme

23 May 2010 (Last Updated May 23rd, 2010 18:30)

Zhejiang Province in China is seeking private investments worth CNY3bn ($439m) to fund its railway construction programme. Zhejiang Railway is planning to construct 24 railway projects by 2015, costing around CNY300bn ($44bn). The provincial government is expected to provid

Zhejiang Province in China is seeking private investments worth CNY3bn ($439m) to fund its railway construction programme.

Zhejiang Railway is planning to construct 24 railway projects by 2015, costing around CNY300bn ($44bn).

The provincial government is expected to provide CNY50bn ($7bn) for the projects, according to chinaknowledge.com.

A private-equity fund with Bank of China Group Investment has been launched by Zhejiang Railway.