Work is expected to get under way this year on one of the world’s most ambitious rail projects with the launch of a state-owned company to oversee construction and operations of a line that will link Hotan in Xinjiang and Lhasa in Tibet.
Advertisement
The Shanghai Securities News reported on Friday that Xinjiang-Tibet Railway Company had been formally registered with 95 billion yuan (US$13.2 billion) in capital and wholly owned by China State Railway Group.
According to the registration, the company’s business scope also includes diversified operations such as real estate development, tourism, catering, accommodation and international project contracting.
Under the plan, the route will join the existing Lhasa-Shigatse line with a new one from Hotan to Shigatse, forming a roughly 2,000km (1,240-mile) strategic artery linking northwestern and southwestern China.
The Xinjiang-Tibet Railway is one of four lines planned to connect Tibet with the rest of the country, with the other services linking the western region to Qinghai, Sichuan and Yunnan provinces.
Advertisement
The Qinghai-Tibet line is up and running while construction continues on the other two.
“This ambitious project aims to establish a 5,000km plateau rail framework centred on Lhasa by 2035,” Hubei-based Huayuan Securities said in a research note on Friday.