China to Spend on Airports and Highways

China to spend 1 trln yuan a year on airports, highways in next 2 yrs - state TV
2008-11-11 05:38 UTC (GMT)

BEIJING (XFN-ASIA) - China's fixed asset investment in the transport sector, excluding railways, will be around 1 trln yuan annually in the next two years, China Central Television (CCTV) reported.

Citing Ministry of Transport spokesman He Jianzhong, the report said that there are 12,000 kilometers of express highways currently under construction in the country, which are expected to consume 12 mln tons of steel products and 100 mln tons of cement in total.

The report quoted He as saying that according to the ministry's estimate, China's 2008 fixed asset investment in the transport sector will be 800 bln yuan, of which 300 bln will be completed in the fourth quarter.

The transport ministry is now in charge of the air, river/sea shipping and land transport, with the rail sector managed separately by the Ministry of Railways.

China's State Council announced on Sunday night a four trln yuan stimulus plan for the economy to counter the impact of the global economic slowdown.

The government formally adopted 10 measures to boost domestic demand, including lifting credit controls as well as speeding up investment in rural development, railways, highways, airports and other infrastructure projects.

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