InfoAnda - China to invest $22B on railways in north province

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Navigation Primary Navigation Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Secondary Navigation Singapore Asia Pacific World Search Search: China to invest $22B on railways in north province AP - Monday, December 8 BEIJING - China plans to invest $22 billion to build more railways in the coal-rich northern province of Shanxi as part of a bid to ease chronic congestion and promote domestic growth in the face of the global economic slowdown, state media reported Sunday. China is in a railway-building boom, adding hundreds of miles (kilometers) of track each year in an expansion that rivals the construction of railroads in the 19th century American West. Ramping up construction can help create jobs at a time when the country's economic boom appears to be stalling, with growth expected to slow this year to about 9 percent, down from last year's 11.9 percent. Expanding the rail system will also help alleviate severe bottlenecks, especially for transport of the coal that is used to generate three-quarters of China's electricity supply. Shanxi, which accounts for a third of China's coal output, will get 1,250 miles (2,000 kilometers) of new track by 2015, the official Xinhua News Agency reported Sunday. Construction of at least three new railway lines will start in the first half of next year, Xinhua said, citing provincial officials and the Ministry of Railways. The building of a railway in the central-southern part of Shanxi will enable the province to ship coal directly to coastal ports in eastern Shandong province, Xinhua said. Calls to provincial officials and the Ministry of Railways information office rang unanswered Sunday. Email Story IM Story Printable View Blog This Recommend this article Average (0 votes) Sign in to recommend this article » Most Recommended Stories » Related Articles: China's Economy India unveils $4 bln economic stimulus packageAFP - 20 minutes ago India announces $4 billion stimulus packageAP - 57 minutes ago China to invest $22B on railways in north provinceAP - Monday, December 8 SKorea's Hynix announces new cost-saving stepsAFP - Monday, December 8 Related Articles: Business India unveils $4 bln economic stimulus packageAFP - 20 minutes ago CORRECTED - UPDATE 2-World Bank sees risk of Gaza bank collapseReuters - 41 minutes ago Bangladesh central bank conducts repos at 8.75 pctReuters - 49 minutes ago PCCW vote date set, Li able to vote PCRD sharesReuters - 51 minutes ago India announces $4 billion stimulus packageAP - 57 minutes ago Related Full Coverage China Economy china economy All Full Coverage Most Popular – Business Viewed Diamond thieves pull off 100-million-dollar Paris heist Girl, 8, among 17 dead in Manila shoot-out: police Vinnie Jones gets into bar fight over role in X-Men Oil price falls below $40 Formula One: Honda exit casts cloud over F1 future View Complete List » Search: Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular

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