Railway construction getting back on track
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E-mail China Daily, February 17, 2012
The money will be used to complete 63 rail projects, continue work on 177 others and begin nine new ones. Besides, the ministry would like to begin 53 other projects this year.
But Yang Hao, a railway professor at Beijing Jiaotong University, said that the 53 projects would need the approval of the National Development and Reform Commission before ground could be broken on them.
The ministry has stressed that the plan for infrastructure spending is "subject to changes", and experts believe that funding is the crucial factor that could determine whether the full plan is carried out.
Zhao Jian, another railway professor at Beijing Jiaotong University, said it remains unclear how the ministry will pull together 400 billion yuan because it has clear access to only 80 billion yuan from the railway construction fund and other sources. "And even the 80 billion yuan is not enough to pay off the interest generated by the 2 trillion yuan debt the ministry owes," he said.
China has planned to build a railway network of 120,000 kilometers by 2015, including at least 16,000 kilometers of high-speed railways.
