Singapore-based Temasek Holdings has confirmed its US$10 million investment in the Jiqing high-speed rail line that connects Taiyuan with Qingdao. The Jiqing high-speed rail line’s feasibility study report was approved by state authorities on January 12.

The Jiqing high-speed rail line will be 307 km long with transport capacity of 50 million passengers per year each way. Its four-year long construction is slated to begin this March.

Shandong province and China Railway Corporation (CRC) will jointly invest the estimated RMB59.98 billion (approx: US$9.58 billion), total investment for the project at a ratio of 80% to 20%, making it the first project in which a provincial government is taking a larger stake than CRC.(Translation by David)