BYD’s SkyRail Project Called Off Amid Stricter Scrutiny of Rail Projects
The construction site of a monorail line to be built by Warren Buffet-backed electric vehicle maker BYD Co. in Hengyang, Hunan province, was idled shortly after a high-profile launch ceremony late last year. The monorail is one of several ambitious city transport projects halted by the central government amid concerns over excess urban investment.
The Hengyang project, dubbed a “demonstrative tourism line,” would be an elevated single-track rail line developed by BYD under the brand of SkyRail. The project was halted by the National Development and Reform Commission at the end of December, less than one month after top city leaders celebrated the beginning of construction, sources close to the matter said.
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