Investment firm to be set up for high-speed railway_财经新闻

Investment firm to be set up for high-speed railway

文章来源：文章作者：发布时间：2007-10-25 06:01 字体： [大中小]　进入论坛

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Oct.25 - A giant investment vehicle will be set up before the year-end for the construction of the Beijing-Shanghai high-speed railway, sources close to the situation told China Daily.

Financial institutions, including overseas private equity¹ investors², will be invited to join the investment firm, they said.

It could be the first time foreign capital is involved in a railway development project in the country.

A total of 110 billion yuan ($14.66 billion) will be raised in the first stage for registered capital and another 110 billion yuan in debt financing, including bonds and loans.

Possible investors include State-owned commercial banks, regional governments and foreign institutional investors, with the Ministry³ of Railways holding a significant stake in the project, the sources said.

"Negotiations⁴ are going on" to determine foreign investors, one source said.

The central and local governments used to be the only financers of railway projects but that has changed in the last few years since Shanghai Maglev⁵ Transportation Development Co Ltd was formed with seven city-based companies as investors.

The Ministry of Railways previously⁶ estimated the cost of building the railway at about 130 billion yuan ($17.33 billion) but has revised the figure - which now stands at 220 billion yuan ($29.33 billion) - because of surging real estate and material prices, according to media reports.

The new railway is designed to carry at least 80 million passengers each year, according to railway experts.

Full recovery of investment will take eight years of commercial operation, based on the estimates that the fare for a one-way trip would range between 600 and 700 yuan ($80-93), compared with 1,280 yuan ($170.66) for an undiscounted air ticket.

The State Council, the Chinese Cabinet, approved a feasibility study of the Beijing-Shanghai project in September after it was first proposed nearly a decade ago.

If the main construction work is started before the end of this year, the railway is expected to be operational by 2010.

When the 1,318-km project is completed, it will take passengers only about five hours to travel between the two cities, compared with 10 hours now - with the peak speed reaching 350 kmh.

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收听单词发音

1 equity
n.公正，公平，（无固定利息的）股票
参考例句：
They shared the work of the house with equity.他们公平地分担家务。 To capture his equity,Murphy must either sell or refinance.要获得资产净值，墨菲必须出售或者重新融资。

2 investors
n.投资者，出资者( investor的名词复数 )
参考例句：
a con man who bilked investors out of millions of dollars 诈取投资者几百万元的骗子 a cash bonanza for investors 投资者的赚钱机会

3 ministry
n.(政府的)部；牧师
参考例句：
They sent a deputation to the ministry to complain.他们派了一个代表团到部里投诉。 We probed the Air Ministry statements.我们调查了空军部的记录。

4 negotiations
协商( negotiation的名词复数 )；谈判；完成（难事）；通过
参考例句：
negotiations for a durable peace 为持久和平而进行的谈判 Negotiations have failed to establish any middle ground. 谈判未能达成任何妥协。

5 maglev
n.磁力悬浮列车；adj.磁力悬浮列车的
参考例句：
The engine for maglev trains is rather in noticeable.磁悬浮列车的车头是相当值得注意的。 The high speed maglev railway is a new-style traffic system. 高速磁悬浮铁路是一种新型的交通方式。

6 previously
adv.以前，先前（地）
参考例句：
The bicycle tyre blew out at a previously damaged point.自行车胎在以前损坏过的地方又爆开了。 Let me digress for a moment and explain what had happened previously.让我岔开一会儿，解释原先发生了什么。

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