Caixin
Sep 06, 2012 03:12 PM

NDRC Approves Metro Lines Worth 840 Bln Yuan

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(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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