Railway projects worth $17 billion approved

China has approved three new railway projects worth 109 billion yuan ($17 billion; 15 billion euros), the National Development and Reform Commission said on Sept 28.

The projects include a 13.7 billion yuan railway running through the three southwestern provinces of Yunnan, Guizhou and Sichuan, a 42.8 billion yuan railway project in the eastern province of Jiangsu, and another one in central Hubei province entailing investment of 52.7 billion yuan. Feasibility studies are due.

China's investment in railway construction was worth 379 billion yuan in the first eight months of the year, up 2.4 percent year-on-year, the Ministry of Transport says. Investment in fixed railway assets is expected to be 800 billion yuan for the whole year.