The Beijing branch of the China Construction Bank has agreed to provide US$964M to the Beijing Subway Group to help finance construction of Beijing’s north-south Line 5 metro line. About US$362M will be used to finance land clearance, site compensation and other advance costs. The rest will help finance construction of the 27.6km line that will run from Songjiazhuang to Taipingzhuangbei. Total construction cost of the railway, which will have 22 stations, is US$1.45bn, US$482M of which will be provided by three companies, including the Beijing Subway Group. Construction should start this month. Beijing plans to invest US$7.69bn on eight light rail projects in six years.
