Construction will start by late March on a new passenger rail line between Shanghai and Hangzhou, a scenic city in east China’s Zhejiang Province.
Yu Jian’er, chairman of the board and general manager of Zhejiang Provincial Railway Investment Group, said the exact starting date for construction work won’t be known until the National Development and Reform Commission, the nation’s chief planning agency, approves a report on the project.
The report was submitted on Dec. 15, said Yu, and approval was likely in mid-February. Construction is forecast to take two years.
The line will be 159 km long, with 105 km in Zhejiang.
Trains on the line will be able to run up to 350 km per hour, shortening the trip from Shanghai to Hangzhou to 38 minutes from more than one hour at present.
China View said Yu Jian’er confirmed that the Ministry of Railways, Shanghai, Zhejiang and Baosteel Group would invest in the project, which will cost EMB29.68 billion (about $4.37 billion).
Baosteel will invest about EMB2 billion, with the ministry, Shanghai and Zhejiang sharing the rest of the cost equally.
Zhejiang Provincial Railway owns all railways in the province and will take charge of related operations.
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