Kazakhstan plans to construct a new pan-continent railway connecting China and Europe, to make the railway transportation between the Asian and European countries more convenient and timesaving.
The plan of the railway project was announced Thursday by the first Vice President of the Kazahkstan National Railway Company Kanat Zhangaskin who is here to invite investment to the project.
Zhangaskin said that the total length of the railway within the territory of Kazahkstan is 3,083 kilometers. The project, with an estimated cost of US$3.5 billion, will start this year and will be completed within four years.
After the construction of the project, the annual transportation capacity of the railway will reach 40 million tons, said Zhangaskin.
He said that this is the first time the project being announced overseas, and he hopes the business circle of Hong Kong can help evaluate the economic benefit and feasibility of the project.
The new railway will use international standard and all the old lines will be connected. "After completion of the railway, the container from Hong Kong and other places of China can be directly transported to Europe," said Zhangaskin.
After the construction of the project, the transit cargo flows between China, Iran and Turkey are estimated to reach US$2 billion very year, and the total annual amount of Asian and European countries will reach US$7 billion, he added.
(Xinhua News Agency March 13, 2004)
