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China approves S$24.5b of railway projects
[BEIJING] China has approved construction plans for three railway projects worth a total of 109.3 billion yuan (S$24.5 billion), the country's top economic planner said in statements on its website on Monday.
The projects include a 13.76 billion yuan railway running through three southwestern provinces - Yunnan, Guizhou and Sichuan, a 42.83 billion yuan railway scheme in the eastern province of Jiangsu, and another one in central Hubei province with an investment value of 52.75 billion yuan. The government will carry out feasibility studies for the projects, it said.
Beijing has approved billions of dollars in infrastructure projects in recent months to stem off a sharp economic slowdown.
The government has been particularly keen on projects in the less-developed western part of the country.