The Ministry Of Railways Withdrew From Regional Railway Investment &Nbsp, And No Longer Sought To Become A Major Shareholder.

The Ministry of railways, which has increasingly heavy debt burden, is ready to withdraw from the construction and investment of some regional railways. Investment No longer requires big shareholders.

The provincial Ministry of Railways has launched the inter provincial rail transportation project in the Pearl River Delta region. The Ministry of Railways hopes that after completing the three construction projects of Guangzhou Guangzhou, Guan Hui and Foshan Zhao, it will no longer participate in the future investment in other lines.

But the source also said that the matter is not yet fixed, and has not yet written a summary of the provincial and provincial cooperation meetings, and the two sides are still negotiating. The entire Pearl River Delta Intercity track The investment plate of transportation is as high as 370 billion, and 23 lines are designed.

The above information was confirmed by two other railway systems. One person said that not only a province in Guangdong, Liu Zhijun, former Minister of railways, took part in the Chengdu metro line as a major shareholder when he was in office. The Ministry of Railways has also withdrawn all funds this year.

This move is quite different from the past style of the Ministry of railways. When the Ministry of Railways once invested in railway projects in the past, it basically guaranteed its holding status, and at least maintained a 1 to 1 contribution ratio with the local government.

A railway system analyst who participated in the preparation of the intercity rail transit project in the Pearl River Delta of Guangdong analyzed that the increasingly high debt ratio was a problem that the Ministry of railways had to consider.

according to Ministry of Railways The debt situation recently announced, the end of the first quarter of 2011, the Ministry of Railways total liabilities of 19836 billion yuan, asset liability ratio of 58.24%. In 2008, the asset liability ratio was also controlled at 46%.

The rise in debt ratio is related to the great leap forward development of China's high-speed rail in the past few years.

After taking office this year, Minister of Railways Sheng Guangzu began to slash investment and construction scale of high-speed railway, and began to reduce technical standards and reduce the speed of high-speed rail. This measure has economic considerations besides safety considerations.

The above said that in the background of "state railway" investment is under pressure, no longer participate in regional railway investment is also expected.

Capital shortage is also one of the reasons for the Ministry of Railways to consider withdrawing from local railway investment. People close to the Ministry of Railways revealed that the tightening credit environment led major banks to require the Ministry of Railways to accept the benchmark lending rate at the beginning of this year and no longer offer a 10% discount on loans, but the tough line of the Ministry of Railways initially refused to accept the adjustment. In the two quarter of this year, although the Ministry of Railways accepted the benchmark interest rate loan, it had missed the golden age of lending at the beginning of this year.

According to our understanding, the railway projects under construction have already been affected by the loan funds being not in place. In 1-6 months, only 32% of Zhejiang's railway projects were built, and the Shanghai Nanjing high speed railway has been partially shut down.

The Xiamen Shenzhen railway project in Guangdong has also been postponed to the end of next year because the loan is not in place as expected, or from the end of June to the end of next year.

Those who are familiar with the inter city rail construction in the Pearl River Delta point out that not enough profit expectations are also important reasons for the Ministry of Railways to withdraw from regional railway investment.

At present, the Ministry of Railways has invested in four lines, including the Guangzhou Zhuhai intercity which has already been opened, and the Sui Wan Shen, Guan Hui and Buddha Zhao in the construction. The Ministry of Railways and Guangdong province have contributed capital in accordance with the capital ratio of 1 to 1. These four routes are considered to be the best passenger and profit in the 23 urban rail transit projects in the Pearl River Delta region.

As a matter of fact, the revenue of urban rail projects that have already been put into operation is not ideal. Take the Guangzhou Zhucheng rail as an example, the original feasibility study report of this line originally gave a reasonable fare of 50 yuan and 70 yuan (direct train) two standards, but in consideration of the urbanization of Guangdong Province, the final implementation fare was only 36 yuan and 44 yuan. The fares are expected to make the Ministry's investment income less than expected.