China's NDRC approves $126.98 billion for urban rail projects

Steel News  |  2012-09-07 09:47:02   |   By Paul Ploumis

China's National Development and Reform Commission (NDRC) has approved project plans and feasibility reports for 25 metro and urban rail projects worth up to RMB 800 billion ($126.98 billion).

BEIJING (Scrap Monster): China's National Development and Reform Commission (NDRC) has approved project plans and feasibility reports for 25 metro and urban rail projects worth up to RMB 800 billion ($126.98 billion).

The southern Chinese city of Guangzhou alone will account for RMB 123.1 billion of the total metro and urban rail investment in question. Other cities in China which will benefit from the spending include Shijiazhuang, Taiyuan, Shanyang, Changzhou, Lanzhou and Xiamen.

These latest infrastructure investments are understood as the latest move by the Chinese government to stabilize domestic economic growth against a background of economic uncertainty and weak external demand.

In line with these investments, forty Chinese cities are expected to have metro systems by 2020, bringing the total track length to 7,000 km, 4.3 times the current length, as stated by the China Association of Metros, a body under direct supervision of the NDRC.

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