China's first high-speed railway controlled by private capital has been built to connect several cities in east China's Zhejiang Province, according to The Xinhua News Agency reports.
The tracks were completed for the Hangzhou-Shaoxing-Taizhou intercity railway, one of China's first group of high-speed railway projects funded by a public-private partnership (PPP), with the private sector having a holding status.
With a total investment of nearly 44.9 billion yuan (about $6.95 billion), the 266.9 km rail line has been designed with eight stops and a speed of 350 km per hour.
The new rail line will be opened by the end of this year and will be connected to the high-speed railway network in the Yangtze River Delta region. It will halve the travel time between Hangzhou and Taizhou to approximately one hour.
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