As world is moving forward by the time in the advancement of railway technologies, China is also not letting themselves behind in the race. In the exciting news released by the national rail operator of china, the spokesperson informed that the china railways will be spending huge amount in the train transportation services to make China one of the advanced nation in train technology. Las year the railway has spent almost $33.5 bn and this year the amount has been increased by many folds to make it a total of $16 bn.
Previously the plan was to build 44 new projects but now the number has been increased to 48. The major investment by rail department is focused primarily on to assist more financial growth. The general manager is the recent interview stated that by the means of absorbing overcapacity the new railway projects will be able to tackle to increasing demand for steel, cement and other such materials used in construction sector.
According to him the total investment has been increased to 9% compared to last year. This year the total figure is reached to $9.8 bn, which is quite impressive.
Presently the total railway line of china covers the 7000 km of stretch, the total length of railways will also goes for expansion as a part of the plan. Total of 25% of the new tracks will be constructed than last year. The funds will be raised by the help of leading banks.