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August 26, 2010

South Africa, China Sign Rail Agreement

South Africa has signed an agreement with China Railway Group for railways and other transport-related projects in the country. China Railway has been in discussions with the South African Government over the construction of a $30bn high-speed rail network between Johannesburg and Durban

By cms admin

South Africa has signed an agreement with China Railway Group for railways and other transport-related projects in the country.

China Railway has been in discussions with the South African Government over the construction of a $30bn high-speed rail network between Johannesburg and Durban, according to khl.com.

The talks for the 556km rail line are in the early stages and, if approved, will reduce journey times between Johannesburg and Durban from 5-7h to about 3h.

South Africa has secured some funding from the country’s Standard bank and could contact other Chinese state-owned banks for the project, if construction goes ahead.

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