(Yicai Global) Nov. 28 -- On Monday, the Chinese government approved construction of an intercity transport network in the Beijing-Tianjin-Hebei region, with urban rail transit as its main service.
The building of nine relevant projects -- including the Beijing-Tangshan Railroad -- will be completed by 2020. Total rail mileage is approximately 1,100 kilometers and total investment is provisionally projected at CNY24.7 billion (USD36 billion), the China National Development and Reform Commission (NDRC) reported on its website Nov. 28. New terminals will be built and existing ones extended or renovated as transfer points between different transport modes.
China Railway and the governments of Beijing, Tianjin and Hebei will jointly organize, plan, implement, construct and manage the projects, giving full play to the function of the Jing-Jin-Ji Intercity Rapid Railway Investment Co. specially formed for the purpose.