Chinanews, Beijing, Nov. 7 – The budget for the Beijing-Shanghai high-speed railway, whose construction is expected to start by the end of this year, might be raised from 130 billion yuan to 170 billion yuan.“We need to allow for the funds for land purchase and the relocation of local residents, so the original budget will definitely be exceeded,” a person close to the issue told Di Yi Cai Jin (China Business News) recently.

 

Based on the current situation, he predicted that at least 170 billion yuan might be needed for the construction. If three other related projects are included, the total budget might exceed 200 billion yuan.

 

At present, the feasibility report of the Beijing-Shanghai high-speed railway construction project has been handed over to the government for approval, and preparation work has entered into the final stage. Construction work is expected to begin by the end of this year.

 

Construction of the Nanjing Dashengguan Yangtze River Bridge, one of the three related projects, was commenced on last September 14. The Dashengguan Yangtze River Bridge will be built with six tracks, two for the high-speed railway between Beijing and Shanghai, two for the Shanghai-Wuhan-Chengdu railway, and two for the Nanjing Subway. Contractual investment of the Nanjing Dashengguan Yangtze River Bridge project totals 3.86 billion yuan, and Nanjing municipal government will allocate¹ 700 million yuan for the Nanjing subway construction.

 

Construction project of the Beijing-Shanghai high-speed railway was approved by the State Council in March this year. When completed, the railway will allow trains to run at a speed of 350 kilometers per hour. The original budget for the construction was set at 130 billion yuan. Construction of the railway will adopt an operational mode widely used in railway construction in recent years. Under this operational mode, the China Railway Construction Investment Corporation will act as the representative investor² for the Ministry³ of Railways and take up at least 51% of the investment shares in the project. Governments of the provinces located along the railway line will take up 20% of the shares in the form of land purchase and residents relocation. The rest of the money needed for the project will be gathered from society.

 

In November, the China Railway Construction Investment Corporation will meet with government representives from Hebei, Shandong, Jiangsu, and Anhui provinces, where the railway line will pass by, and investor representatives from Beijing, Tianjin and Shanghai, to jointly⁴ discuss the construction issue.

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