RMB 1.6 Bln for Huhanrong Railway Line

In a press release today, the company announced that its board has approved an investment of RMB 1.6 bln by Huhanrong Railway (Hubei) Co., Ltd. to construct the Huhanrong Railway line in order to penetrate the railway industry.

Huhanrong Railway (Hubei) Co., Ltd. is a single-purpose entity established for the construction of the Wuhan-Hefei section and the Wuhan-Yichang section of the Huhanrong Railway line. The project has funds of RMB 15.83 bln, of which RMB 5.92 bln is for the Wuhan-Hefei section and RMB 8.32 bln is for the Wuhan-Yichang section. The company has invested RMB 1.6 bln, equal to a 10.11% stake.


Source: Shanghai Securities News

Date: 5 Jul 2008

CN01/RL/MZ/BT/MM