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China invests $35,8 billion in railway network’s modernization near Beijing

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China invests $35,8 billion in railway network’s modernization near Beijing

The authorities of China approved a project for modernization of a railway network between Beijing, Tianjin port city and the Hebei Province, TASS nes agency reports.

According to a statement published by the Chinese State Development and Reforms Committee, volume of financing will total 247 billion yuan (about $35,78 billion).

The plan includes nine projects of railway lines’ construction with the length of 1,100 square meters. It is scheduled to be implemented by 2030. According to the project documentation, railroad stations will be built in the cities with over 100,000 people, through which territory the railroad branches will pass.

The Chinese authorities plan to convert Beijing, Tianjin and Hebei into an enormous social and economic metropolitan area.

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