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$22-Billion Railway Projects Are Announced

THE WORLD | IN BRIEF / CHINA

March 14, 2006|From Times Wire Reports

China announced it would spend $22 billion to build two of the world's most ambitious railway projects: the nation's second magnetic levitation train and a high-speed railway linking Beijing and Shanghai.

The announcements had been eagerly awaited by European and Asian makers of railway equipment, which are looking to China for potential sales as the government pushes ahead with plans to add thousands of miles of high-speed lines to its network.

The 820-mile Beijing-Shanghai link will use wheeled trains traveling at up to 220 mph.

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