Foreign companies will be invited to bid alongside domestic firms for the construction of Beijing’s subways, city mayor, Liu Qi, said last month.
Liu Qi said that the city plans to construct 150km of subway lines in the coming six years, three times the total length built in the city over the past 37 years. The announcement that the projects are open to foreign bidders is further proof of China’s increasing willingness to welcome outside investment.
The disclosure was made during a meeting with the executive vice-president of the Canadian company SNC-Lavalin Inc., Robert Tribe, who was in Beijing to sign a letter of intent to be involved in the design, build and operation of the No.5 subway line.
JP Morgan Chase Bank is understood to be financing the construction of the No.4 and No.5 subways. Funds will be made available before the end of the year.
