Railway construction upsurge was set
Category: News
Author: Pauline Carter
Time :12-06

Recently, Shangqiu , Hefei, Hangzhou Railway officially approved by the National Development and Reform Commission for approval , the estimated total investment of 84.2 billion yuan . Reporters noted that entering the fourth quarter , speed railway construction has the potential, in addition to the new line plan Development and Reform Commission , the country has also introduced a large-scale investment plans.

Investment Advisor in Senior Fellow applicants is far in the "Daily Economic News" reporter, said that from the previous point of view, every fourth quarter , the construction of the railway will be rapid growth in the volume of investment this year is no exception , is expected to continue to increase its investment with the , the annual investment plan can be expected.

In terms of funding , China Railway Company yesterday ( October 14 ) issued a fifth of China's railway construction bonds this year , a total of 20 billion yuan . Recruitment of books displayed before the fifth bond issue , railway construction bonds has not yet expired more than 700 billion yuan , the interest to be paid $ 33 billion annually .

Part of the line was approved shelving

October 10 , the National Development and Reform Commission officially approved the co- Hangzhou railway provider of project proposals , which means providers combined Hangzhou Railway preliminary work made ​​a major breakthrough . According to NDRC approval display , business co -Hangzhou railway passenger line project is part of the national rail network quickly , is to communicate the Central Plains region , with fast passenger corridor Anhui Yangtze River Delta region , mainly undertake long-distance passenger traffic , taking into account the areas along Intercity passenger . Line is line length 770 km , a total investment of 84.25 billion yuan estimate project .

According to the " Daily Economic News" reporter, as early as in 2008 , business co -Hangzhou passenger line construction will put on the agenda , but then shelved due to various reasons five years . Anhui Development and Reform Commission said it will promote the feasibility report preparation and reporting of preliminary work , such as follow-up with Zhejiang and Henan provinces , and strive to start construction as soon as possible . Upon completion, from Hefei to Hangzhou and Shangqiu only need two hours or so.

In addition , the National Development and Reform Commission has approved a pre-feasibility study report last week Korla to Golmud railway project , the project line length is 1222.9 kilometers , approved the project with a total investment of 36.5 billion yuan , is China's gateway to West Asia , the Mediterranean and the Black Sea region land transport large channel.

Earlier, the National Development and Reform Commission approved the project proposal Yinchuan , Xi'an railway , the line is also part of the national rail network quickly , the new line length is 574.4 kilometers , the total is expected to be 52.97 billion yuan , the China Railway Company and Ningxia, Gansu, Shaanxi jointly funded construction . Recently, the Ningxia Development and Reform Commission , said the next step will make every effort to Xi'an, Yinchuan railway preliminary work to ensure that the project officially started construction in 2014 .

During the Arab Infrastructure Forum held in September , the National Development and Reform Commission Secretary western Qin Yun was that the western development in 13 years , China's investment in key projects for the West has reached 3.68 trillion yuan . Transport investment is 180 billion yuan , accounting for 70% of the country.

In addition to planning the national road network , the recent local also planning a large -scale railway investment plans. Fujian Province put forward to 2015 this year will be built 11 railway lines or branch , three years of new railway operating mileage 1085 km , out of the province Channel 4 , and strive to invest 57 billion yuan to complete . Guangxi Development and Reform Commission said the Nanning Railway Bureau is undergoing a comprehensive high-speed rail FBI test , the new Nanning East Station , the transformation of Nanning , Liuzhou , Guilin station as " high-speed rail station ," is expected to open this year will be seven dollars 1,081 km high-speed rail .

Annual investment is expected to be completed

In 2013 , the original railway fixed assets investment of 650 billion yuan , of which 520 billion in infrastructure , but in July this year, the State railway fixed assets investment increased to 690 billion yuan , according to the adjusted plan , the next two years, the average annual investment in railway construction reached 700 billion yuan , recovered to a high level in 2009.

Chinese Academy of Engineering, Wang Meng-shu told the " Daily Economic News " reporter , said, " railroad in the country for some time will become the focus of investment in construction of key ."

Currently, in 2013 only two months from the end of time , railway investment has not yet reached half of the year, whether the task is not yet known , but from past experience , the end of all the force of iron or investments. Shen is far from that of the first nine months of last year was 290 billion investment was 630 billion from the annual amount of investment gap is also great, but then the task is completed , " the year of the annual investment mandate should not be a problem ."

China Railway Corporation Bonds bear interest at 33 billion

However, with the expiration of railway bonds and bank loans , the China Railway Company is not only faced with the task of huge investment , but also need to keep sinking . Yesterday, the China Railway Corporation issued a tender fifth year, China's railway construction bonds , amounting to 20 billion yuan , the recruitment of books displayed before the fifth bond issue , railway construction bonds has not yet expired more than 700 billion yuan , a year interest to be paid up to 33 billion yuan .

Shen is far said that although the railway investment and financing reform is advancing , but not overnight , " debt financing model is difficult to change in the short term , while other channels are not formed , it is still the main source of funding channels railroad ."

Divided into 10-year bonds and 20 -year two varieties, of which the 10-year issue size of 150 varieties billion, 20-year issue size of 50 varieties billion. "Daily Economic News" reporter learned from the bond underwriter place , fifth railroad debt tender results for bid 15 billion yuan of 10-year interest rate is 5.32% ; 5 billion yuan 20-year interest rate of 5.55% bid , bid interest rates close to the upper end of the tender period .

CSC bond analyst with Shi Liang told the " Daily Economic News " interview, said that the railroad bonds bid rate within the expected range , the bond market is not sought after market funds is not the main reason is that on the one hand loose , another aspects of the bond market is still relatively weak, the market for railroad bonds issued more cautious , while funding costs rising faster mechanism , which will affect the railroad bonds in the move interest rates.

It is understood that the current bond issuance will be used to raise funds specifically to the new Shenyang , Dandong Railway Passenger Dedicated Line , New Shijiazhuang, Jinan Railway Passenger Dedicated Line railway construction projects , such as 42 , the value date of the bonds is October 15, 2013 .

Insiders pointed out that large-scale investment was sustained steady growth , according to the Railway Company 's existing cash acquisition capacity point of view, there are still large external financing needs . " Promote investment diversification , broadening financing channels and strong government policies , financial support for a stable source of future railway construction funds played a role in the further protection ."

Shi Liang said the same , with the expansion of the railway debt , the size of railroad bonds is also growing , the corresponding Chinese Railway Corporation debt pressure is also growing, which for the successful issue of railway bonds and have an impact , "but China Railway Corporation solvency is not an issue , on the one hand there is the railway debt credit countries , on the other aspects of the country are being funded through the introduction of private capital , railway fund to ease the debt pressure on China Railway Corporation . "

Statistics show that as of June 30, 2013 , the audited summary Railway Company assets totaled 4.663159 trillion yuan , total 1.744944 trillion yuan interests . January to June 2013 , to achieve transportation revenue 288.854 billion yuan , 30.905 billion yuan construction fund tax levy .

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