$8.9b order for new high-speed trains expected

Chinese high-speed train producers are likely to gain a 55 billion yuan ($8.9 billion) order for high-speed trains, Chinese media reported on Tuesday.

A total of 300 high-speed trains would be ordered to fulfill the demand of the growing high-speed rail network. Among them, 190 would be 350 kph trains and 110 would be 250 kph trains, the 21st Century Business Herald reported.

The 350 kph trains are estimated at around 194 million yuan each, while the 250 kph trains are estimated at around 129 million yuan each, the paper said, citing an unnamed source with China CNR Corp Ltd, a Beijing-based manufacturer of locomotives and rolling stock.

However, the source said that the ultimate purchase amount would depend on the outcome of bidding conducted by China Railway Investment Corp.

China Daily could not independently confirm the report.

The demand for trains is unlikely to slow as China pushes ahead with railway construction.

At the end of April, China's fixed asset railway investment budget for this year was raised from 630 billion yuan to more than 800 billion yuan. The number of new construction projects was raised from 44 to 64.