SteelOrbis Shanghai
As revealed by a source at China's Ministry of Railways, China plans to invest more than RMB 3.5 trillion ($513.2 billion) in the expansion of its railway network over the coming three years.
The ministry source stated that about 34 projects reaching a total investment of RMB 380 billion ($146.6 billion) would probably get the green light from the relevant authorities during the last two months of this year, while an amount totaling RMB 600 billion ($88 billion) is expected to flow into the construction of railways. In addition, approximately 70 new projects would be initiated next year, requiring an investment of RMB 1 trillion ($146.6 billion).
According to the preliminary estimation, a total amount of RMB 600 billion ($88 billion) will be injected into the domestic rail infrastructures, creating a demand of 20 million mt of steel and 120 million mt of cement, and also boosting GDP growth by 1.5 percentage points.