China High-Speed Railway Tender Bid Results Released
China’s Ministry of Railways has announced the opening results for bidding on the Beijing-Shanghai high-speed railway.
Fifteen Chinese companies have bid for the project’s six civil construction sections, estimated at over CNY80bn based on bid prices, according to local reports.
The companies are affiliated with five large Chinese construction groups including China Railway Engineering Group.
The Chinese Government has awarded contracts to four Chinese companies that have bid more than CNY80bn ($11.01bn) to construct the Beijing-Shanghai high-speed railway.
Contracts for the project were divided into six sections with China Railway Construction winning its bid for the two largest – worth CNY33.7bn – making up 40 percent of the total project.
China Railway Group also won its CNY22bn bid, Chinese news agency Xinhua announced over the weekend.
The 1,320km, high-speed link is planned to cut travel time between China’s capital and its finance centre to five hours from 12, according to government.
Trains will run at speeds of up to 350km per hour (220 mph), making it the country’s fastest rail line.