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Rail attracts investors

28 May 2010

CHINA: Investors including Bank of China signed an agreement on May 6 to establish Jinyulu Railway Channel Co, which will develop a 99·8bn yuan freight line running 1260 km from coal mines at Xingxian in Shanxi province, through Henan to the Yellow Sea port of Rizhao.

Bank of China is to invest 7·5bn yuan to take a 14·5% stake in the joint venture. The bank has also announced plans to spend 6bn yuan on a 4·5% stake in Beijing-Shanghai High Speed Railway Co.