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2-billion-yuan for light rail construction in Chongqing

2-billion-yuan for light rail construction in Chongqing

Write: Akina [2011-05-20]

CHONGQING (CQNEWS) -- Chongqing Rail Transit (Group) Co., Ltd. and Kunlun Financial Leasing Co., Ltd. held a signing ceremony of financial leasing in Chongqing on March 10, 2011 to provide 2-billion-yuan (the most in the light rail construction history) financing for rail construction in Chongqing.

The capital will be used for the under-construction rail lines. Part of the equipment of Phase 1 of Light Rail Line 3 should be mortgaged.

Kunlun Financial Leasing Co., Ltd. is a large financial leasing company jointly established by CNPC and Chongqing Electromechanical Holding (Group) Company in July 2010. Since its establishment, the company has accumulatively provided 4 billion yuan financing for the economic development of Chongqing. (Translated by Wei Longfeng, Fathom Language Limited)