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CSR Qingdao Sifang to build Škoda trams for the Chinese market
CHINA: Škoda Transportation has signed an agreement for CSR Qingdao Sifang to produce ForCity 15T low-floor trams for the Chinese market under licence.
Škoda Transportation said the 10-year agreement announced on June 3 could cover up to 400 trams taking the value of the contract to KC5bn.
'China currently has a sophisticated plan for investment in the public transport sector', said Tomáš Krsek, Chairman of Škoda Transportation. 'Therefore, the local market is very interesting for us. But it is also necessary to keep in mind that the market is highly competitive, where all multinational global companies take part. And that is why I see the contract as confirmation that our company is able to offer top quality products which can succeed in competition among world manufacturers.'
Pingtan to build China's first cross-sea rail-road bridge
( chinadaily.com.cn )
Updated: 2013-06-03
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China's first cross-sea rail-road bridge will soon start construction in Pingtan, Southeast China's Fujian province, Chinanews.com reported.
The design of the Pingtan Haixia Rail-Road Bridge has been approved by the Fujian provincial government and China Railway Corporation, said the report.
The cross-sea rail will span a distance of about 16.32 kilometers. It will start from Songxia Port in Changle city, stretch southeast over the Yuanhong channel, the Guyumen channel, Changyu Island, Xiaolian Island, the Xiaolian-Dalian island channel, Dalian Island, Haitan Strait, and finally reach Pingtan Island.
The Pingtan Haixia Rail-Road Bridge, linking Songxia Port and Dalian Island, will measure 11.15 kilometers and is the main part of the cross-sea railway. It is designed to have two layers. The upper level will include a two-way six-lane highway, and the lower level will feature a double-track railway.
The cross-sea rails are part of the new Fuzhou-Pingtan railway, which measures a total length of 88.43 kilometers.
The bridge project includes three channel bridges over the Yuanhong channel, Guyumen channel and Dalian-Xiaolian island channel. It will also feature bridge approaches and railroad beds. The estimated investment amounts to 10.9 billion yuan ($1.78 billion).
Chinanews.com didn't give a specific date as of when construction will begin. But according to news in March from Xinhua News Agency, work should kick off by the end of this year.
China Railway plans to issue up to 20 billion yuan in bonds
China Railway Corp, established on March 14 with a registered capital of 1.04 trillion yuan, assumed the business operations of the Ministry of Railways after it was broken up.
China Railway Corp, the new commercial arm of the former Ministry of Railways, plans to issue up to 20 billion yuan (HK$25.1 billion) of fixed-rate enterprise bonds in June, according to three sources familiar with the situation, IFR Asia reported on Friday.
The deal, the debut enterprise bond offering from the newly created entity, has a planned tenor of 10 years, it said.
According to the sources, the proposed transaction is expected to receive approval from the National Development and Reform Commission as early as early next month. The initial price guidance is from 25bp to 75bp, based on the one-year Shibor (Shanghai interbank offered rate), IFR Asia reported.
The issuer has mandated Shenyin Wanguo Securities to be the top lead on the deal, while five other securities houses, namely CDB Securities, Guotai Junan Securities, China Securities, Essence Securities and Citic Securities will be joint leads.
China Life Asset Management will be the finance adviser. Chengxin has rated both the deal and the issuer AAA. Proceeds will be used entirely to fund the company’s railway construction.
Prior to the proposed offering, MoR has issued up to 638.7 billion yuan of enterprise bonds, of which 16.7 billion yuan has already been repaid. The annual interest on the outstanding bonds of 622 billion yuan is 28.97 billion yuan.
On May 23, CRC just offered its debut five-year medium term notes of 20 billion yuan at 4.50 per cent. The former MoR ranks as one of the biggest issuers in China’s domestic bond market, with 764.1billion yuan outstanding.
Earlier this month, China Railway said in a bond prospectus that it had posted an after-tax loss of 6.88 billion yuan (HK$8.7 billion) in the first quarter, compared with an after-tax profit of 196 million yuan for the whole of last year, according to its first bond prospectus.
The state-owned firm said it planned to use proceeds from the five-year bonds to finance rail construction, purchase rolling stock and for general working capital.
The company, established on March 14 with a registered capital of 1.04 trillion yuan, assumed the business operations of the Ministry of Railways after it was broken up.