Beijing: Big Bucks on Major Projects

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Last updated at: (Beijing Time) Thursday, April 11, 2002

Beijing: Big Bucks on Major Projects

Beijing municipal government will mobolize 189.14 billion yuan to invest on major construction projects in the next few years, a local official said Tuesday.

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Chinese capital Beijing will spend 189.14 billion yuan on major construction projects in the next few years, a municipal official said Tuesday (April 9).

In 2002 alone, the city will spend 54.19 billion yuan on key construction projects, said Gao Delong, head of the municipal office for major construction projects.

Projects on the agenda for 2002 include the 41 kilometer light rail system, with an investment of 6 billion yuan and the No.5 subway, stretching 28 kilometers and costing 12 billion yuan.

The subway from Bawangfen to Tongzhou District, started since last December, will have 80 percent of the civil engineering work done by the year end to ensure its being ready for service by 2003.

The official stressed that the government will use more market power in financing these projects, including listing of some firms on the stock exchanges, the adoption of public bidding among others.

Beijing Inject 36.2 Billion-yuan for 60 Major Construction Projects in 2002

This year will see Beijing make an investment of RMB 36.2 billion-yuan for the construction of 60 key projects with the major part dedicated to such projects as urban transportation and environmental treatment.

This is based on the news reported at the "Mobilization Conference for 60 Major Construction Projects" convened on Mar.5, 2002. The projects comprise respectively of 12 items for transportation and 15 for environmental treatment and with an investment of RMB 2 billion-yuan to set in motion to the project of the Olympic Park.

The gross investment for the 60 key projects totals a lump-sum of RMB 139.2 billion-yuan, of which the investment this year comes to RMB 36.2 billion-yuan.

As to the investment in urban transportation it will see a total inject of over RMB 52.4 billion-yuan in Beijing.

The projects in particular include: the urban fast light-rail, Bawangfen/Tongzhou subway, No.5 subway, Deshengmenwai avenue, westward extension for the Lotus Pond Road East, densification of local roads, first phase project of Beijing/Chengde Freeway (Fourth Ring Road to Gaoliying) and the public transportation hinge running from Dongzhimen - Xizhimen - Beijing Zoo as well as the Fifth and Sixth Ring Roads, etc. full text

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