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China to spend a fortune on Bullet trains
Highlights
A Chinese railway firm has opened tenders for 351 bullet trains worth a staggering $10.6 billion.China Daily reported that state-owned China Railway Investment Corp has opened tenders for what it claims is the largest train order in history.
A Chinese railway firm has opened tenders for 351 bullet trains worth a staggering $10.6 billion.China Daily reported that state-owned China Railway Investment Corp has opened tenders for what it claims is the largest train order in history.
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As many as 228 bullet trains will have to reach a maximum speed of 350 km per hour, and 123 trains will need to run at 250 kilometers per hour, said CRIC, a subsidiary of China Railway Corp.
Experts estimate the tenders could be worth more than 66 billion yuan ($10.6 billion).
The tenders are for China-based makers only, the media report said.
The demand for rail in China has witnessed considerable growth.
A 350-kmph bullet train normally costs around 370 million yuan, and there is likely to be more demand for those than for the 250-kmph models, a source was quoted as saying.
Construction of China's high-speed rail network began in 2007.
The country has over 16,000 km of high-speed rail at the end of 2014.
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