China's Ministry of Railways will start a new round of tender offers this year for its high-speed railways that could be worth up to 40 billion yuan ($6.35 billion), the China (
www.reuters.com/places/china
) Securities Journal reported on Friday, quoting industry sources.
The ministry also plans to procure 86 billion yuan worth of vehicles this year, the sources told the newspaper.
China CNR Corp and China South Locomotive and Rolling Stock Corp Ltd (CSR) , may be the main beneficiaries of the tender offer and could see the new orders impacting results in 2013 and beyond, the newspaper said. ($1 = 6.2985 yuan)
Last edit: 12 years 4 months ago by niadmin. Reason: Reduce font size
Latest - Sat, Feb 25, 2012
There's been stops and there has been starts but it appears China's much heralded US$200 billion (150 billion euro) high-speed train network will be charging ahead during 2012 -- and beyond.
The country's Ministry of Railways is now saying 3,500 kilometers of rail line will be opened up for use this year, making the entire service stretch past 10,000km.
This will mean that all of China's planned North-South routes will come into operation, slashing travelling time between some of the country's most popular cities while also offering a cheap transport alternative to locals and to the growing number of tourists who are visiting China each year.
The first of those routes -- connecting Beijing and Shanghai -- opened last June and it will be followed this year by Beijing-Guangzhou (southern route), Beijing-Harbin (northeast) and a route that will connect the coastal centres south of Shanghai.
That last route will eventually lead to the Beijing-Shenzhen line but it is still waiting for the completion of the Xiamen-to-Shenzhen leg.
When completed, the Beijing-Shenzhen trip will take an estimated eight hours, instead of the current 24, while the Beijing-Harbin trip will take five hours instead of nine.
China's master plan is to have a national rail system of 120,000 km in place by 2015 and that will include 16,000 km of high-speed lines
Midas Holdings’ FY11 profit fell 24%yoy on delayed deliveries and higher operating expenses after
capacity expansion. However, the Chinese government’s commitment to rail development signals
potential contracts in 2H12. Upgrade to Outperform, target price S$0.52.
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