(Xinhua, Aug 13, 2006) The Ministry of Railway has planned to issue railway bonds worth 40 billion yuan this year to meet the country's capital need in railway construction.
Once approved by the Central bank and the State Development and Reform Commission, it will be the largest railway bond issue since China launched this kind of bond in 1995.
The bond term, interest rate and major underwriters are yet to be decided, but it is certain that all the funds raised will be used for railway construction, the Xinhua Daily Telegraph reported on Sunday.
Previous reports from the Ministry said China would need 1.5 trillion yuan in railway construction from 2006 to 2010. The past two years alone has seen the commencement of 89 construction projects whose aggregated investment is estimated around 600 billion yuan.
source:http://www.zoomchina.com.cn/index.php?/c...