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Jiangxi's first private railway commences operation
CENTRAL hinterland province Jiangxi's first private-invested railway has opened for traffic on the last day of 2013.
This railway, which is 3.89 kilometres long, connects Jiangxi's Yugan Industrial Park to the Huaqiao Station of the Beijing-Kowloon Railway. It cost CNY130 million (US$21.48 million) to build and is fully invested by Jiangxi Mingri Group, a local textile manufacturer, according to Xinhua's report.
Ye Rimin, Chairman of the group, said that group filed application six years ago to the Nanchang Railway Bureau for building this railway as cargo volume in Yugan county was rising.
In August 2010, the application received approval from the Ministry of Railway. Construction began in June 2012, lasting 18 months.
Mr Ye said that Yugan county's freight volume was around one million tonnes per year back in six years ago when the group filed to build the railway. Now the county's annual cargo volume is expected to reach two million tonnes.
If the cargo volume manage to stay around two million tonnes, "I can recoup the investment in less than 10 years", said Mr Ye.
This railway, which is 3.89 kilometres long, connects Jiangxi's Yugan Industrial Park to the Huaqiao Station of the Beijing-Kowloon Railway. It cost CNY130 million (US$21.48 million) to build and is fully invested by Jiangxi Mingri Group, a local textile manufacturer, according to Xinhua's report.
Ye Rimin, Chairman of the group, said that group filed application six years ago to the Nanchang Railway Bureau for building this railway as cargo volume in Yugan county was rising.
In August 2010, the application received approval from the Ministry of Railway. Construction began in June 2012, lasting 18 months.
Mr Ye said that Yugan county's freight volume was around one million tonnes per year back in six years ago when the group filed to build the railway. Now the county's annual cargo volume is expected to reach two million tonnes.
If the cargo volume manage to stay around two million tonnes, "I can recoup the investment in less than 10 years", said Mr Ye.
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