Caixin OnlineFinance & EconomicsTop Stories Finance NDRC Approves Metro Lines Worth 840 Bln Yuan
09.06.2012 15:12

NDRC Approves Metro Lines Worth 840 Bln Yuan

Recent months see economic planner give green light to subway and light rail projects in 23 cities
By staff reporter Wu Jing

(Beijing) – The National Development and Reform Commission has approved 840 billion yuan worth of construction of subway and light rail lines in 23 cities over the last four months.

Most of these projects rely partially on the local government's budget, and bank loans cover the rest, the top economic planner said on September 5.

The rail system in Suzhou, in the eastern province of Jiangsu, is expected to cost 35.7 billion yuan, 35 percent coming from the city's budget. The remainder will come from domestic bank loans.

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