Chinese rail companies say they are considering bidding for a British high-speed rail project worth GBP32.7 billion (HK$391.7 billion), which yesterday won government approval.
'I have decided Britain should embark upon the most significant transport infrastructure project since the building of the motorways by supporting a new national high-speed rail network,' Transport Secretary Justine Greening said as she approved the project, known as HS2.
The total capital cost of HS2 was GBP32.7 billion, and the railway would generate benefits of GBP47 billion and GBP34 billion in fare revenue over a 60-year period, Greening said.
The first phase of HS2, connecting London with Birmingham, in the English Midlands would be completed by 2026, while the second phase, extending to Manchester and Leeds in the north of England and to London's Heathrow Airport, would be completed by 2033.
Although tendering has not yet started, Chinese companies have said they are interested in the project, the most expensive rail expansion in the country's history.
'If the UK government wants this high-speed-rail project, of course we would be interested in bidding for it,' Li Jiansheng, chief financial officer of China Railway Group, said. China Railway is a state-owned construction firm listed in Hong Kong and Shanghai.
