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Xi'an to Kick off Subway Project
Xi'an, capital of northwest China's Shaanxi Province, will soon kick off the construction of its No.1 subway line which will traverse the city proper from west to east.
Sources with the city subway office disclosed that the city will put forward the project to lure both domestic and overseas investment at the upcoming 2001 China West-East Cooperation and Investment Trade Fair scheduled for next month.
The 19.42 kilometer subway is expected to cost 7.12 billion yuan (US$857.8 million), including 2.5 billion yuan in capital funds. The remaining part of the money needed will be settled through bank loans and introducing foreign investment.
The investment recovery period will be 28 years (including the construction period), said the sources.
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