China to build $5.78 bn subway line in Beijing
Beijing: Beijing is set to launch its new subway metro line costing about USD 5.78 billion to ease the traffic in Chinese capital.
The new line No 16 is expected to be put into operation by the end of 2016, which will link the Yongfeng high-tech industrial base in the north with Lugouqiao town in the south, will pass through downtown Beijing, the Beijing City Subway Construction Management Company announced on Saturday.
The line with 24 stations, including 11 transfer stations, will be 36 km long. It will cost about CNY 36 billion (USD 5.78 billion), state-run Xinhua news agency reported.
According to statistics from Beijing's transportation department, the city's subway system is expected to carry around 10 million passengers daily this year, surpassing the world's busiest subway in Moscow, which transports nine million passengers each day.
Two months ago, Beijing added four new lines to its operation on December 30, 2012, bringing its track length to 442 kilometres, the country's longest.
However, by 2015, the number of subway lines in Beijing will reach 19, with a combined length of 561 km.
Whereas, Beijing plans to increase the total subway length to 1,000 km by 2020.
The Chinese government has sanctioned a host of new construction projects infrastructure of railways and subways in different cities in order to revitalise the export dependent economy which posted a 13-year low of 7.8 percent growth rate last year due to decline in global exports.