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Transactions - MAY 9, 2018

China approves $3.5b rail project

by Andrea Zander

The Chinese National Development and Reform Commission has approved the $3.5 billion rail project in Xinjiang, spanning 513 miles.

The railway will have 69 stops, with a top-speed of 120 kilometers (75 miles) per hour.

The project, which will take 3.5 years, is expected to help boost the local economy, support poverty alleviation projects, and promote coordinated development in Xinjiang.

 

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