GREY:CTORF - Post by User
Post by
warrenbuffet99on Dec 24, 2001 12:58am
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Post# 4558192
Rail Projects to Receive Grants
Rail Projects to Receive Grants
The Agricultural Bank of China announced over the
weekend that it is offering a credit extension of 10 billion
yuan (1.2 billion U.S. dollars) to two rail transportation
projects in Shanghai.
Yang Mingsheng, vice-president of the bank, said his bank
will provide an 8 billion yuan credit extension to the Yangpu
rail transportation project, and 2 billion yuan to the Pudong
magnetic levitation passenger train project.
Shanghai, the industrial and business center in China,
plans to build ten rail transportation projects from 2001 to
2005.
When the projects are completed, Shanghai will become
the eighth city in the world with railway lines exceeding 200
km in length.