Beijing issues bond for subway
(Xinhua)
Updated: 2006-04-26 11:27
A corporate bond of two billion yuan (250 million U.S. dollars) was issued on
Tuesday in Beijing for the capital's subway construction.
The 10-year-term corporate bond will be used for the construction of the
Beijing No. 10 subway line which includes a branch line to the 2008 Olympic
sports center, said the Beijing Infrastructure Investment Co., Ltd.
This is the second bond of its kind to be issued and four billion yuan (some
500 million U.S. dollars) has been raised so far through corporate bonds for
subway construction in Beijing.
With a planned length of about 32 kilometers, work on the No.10 subway line
began at the end of 2004 and is expected to be completed by the end of 2007.
Four subway lines are now in operation in Beijing, with a total length of 114
kilometers and a daily passenger flow of 1.6 million.
By 2008, four other lines will also be running in the capital, bringing the
total length of subway lines to 200 kilometers.
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