BEIJING, Dec. 27 (Xinhua) -- China's first high-speed railway project with private enterprise holding the controlling share started construction in Zhejiang province on Friday. The railway will link Hangzhou and Taizhou, reports thepaper.cn.
The 269-kilometer-long railway with 9 stations is expected to cost more than 46 billion yuan (around 6.6 billion USD). The designed speed for it is 350 kilometers per hour.
The railway has been funded under the Public-Private Partnership (PPP) model. It's a demonstration project at the national-level, allowing private enterprises or private capital to cooperate with government for infrastructure construction. The project is China's first railway construction under the PPP mode. (CRI English)
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