On Saturday the Ministry of Railway announced the bidding
results for the construction of the 220- billion-yuan
Beijing-Shanghai high-speed rail link.
Six companies, affiliated with four of China's construction
groups, were awarded the tenders with a total bid price of 83.7
billion yuan.
China Railway Construction Corporation was the biggest winner,
with a bid price of 33.74 billion yuan, snatching 40 percent of the
total construction. China Railway Engineering Group took up 26
percent of the construction with a bid price of 21.96 billion yuan,
missing previous expectations.
The bid process opened on Thursday with 15 companies submitting
their tenders. The construction of the high-speed railway will also
be a boost to the engineering machinery equipment sector, with
projected purchases worth 30 billion yuan, according to insiders in
the industry institutes.
