25 March 2019

China may finance, build UK rail line, FT says

Government-backed China Railway Group Ltd. (CRG) (601390.CN, 00390.HK) has offered to invest in Britain’s railways by financing and building links to a new Birmingham station on the high-speed HS2 network, Financial Times reported Wednesday. A CRG official confirmed the company’s interest in the project. Chinese Premier Li Keqiang {李克強} offered to invest directly in the £50 billion (US$82.25 billion) high-speed rail project during a visit by British Prime Minister David Cameron to Beijing last year. Cameron welcomed Chinese investment in British infrastructure, including Heathrow airport, a nuclear power station in western England and Manchester airport, the report said. However, Chinese investors are more likely to be allowed to bid for operating concessions or build stations or other ancillary facilities around the project. British officials insist that the main rail line should be funded entirely by British taxpayers, the report said.

– Contact HKEJ at [email protected]



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