China plans to create the world's largest high-speed rail network. The Chinese Ministry of Railways is planning to buy 1,000 high-speed trains within the next few years. The current order from Siemens (SI) includes the first trains to serve the new high-speed line between Bejing and Shanghai.
German train producer Siemens has inked a $1 billion contract to build 100 new high-speed trains for China. The company's Velaro train has a top speed of 218mph (350.84km/h). A typical train will have 16 cars and carry more than 1,000 passengers. With a total length of more than 1,300 feet (396.24m), the new trains will be the world's longest single high-speed units in use, according to Siemens.
By the end of the first quarter 2009, the approved Chinese railway investment exceeds $292 billion including more than $175 billion investment in the process projects. The data shown in the recent "Research Report on the Investment in Chinese Railway Transport Industry, 2009" indicates that China plans to construct 40-thousand-kilometer railways with the total investments of over $730 billion by 2012.
Source: Seeking Alpha
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