Attracted by the prospect of large-scale rail transport projects in Beijing, foreign investors have strengthened their presence in the city.
On February 22,Beijing Construction Engineering Co,Ltd (Group)and German Bilfinger Berger AG announced an additional investment of 75 million yuan (US$9.03 million)to theirjoint venture in Beijing.
As a result,the registered capital of Chang Cheng Bilfinger Berger Construction Engineering Corp Ltd rose to 100 million yuan.
"After the capital increase,Chang Cheng Bilfinger Berger will be a strong competitor for subway,urban railway,tunnel and otherinfrastructure projects in Beijing,"said Liu Longhua,general manager of Beijing Construction Engineering Co,LtdIt has been reported that Beijing will invest 90billion yuan to build 150km of rail transport routes in the run-up to hosting the 2008 Olympic Games.
The fifty-fifty joint venture was established in 1995.It used to built a hangar in Beijing,which so far is the largest in Asia.
The German partner,which ranks among the world's top 15 construction enterprises,is strong in subway,urban railway and tunnel projects.
( eastday.com February 27, 2002)
