Several Chinese rail companies expressed interests in bidding for the British high-speed rail project worth ￡32.7 billion (US$50.1 billion), South China Morning Post reported Wednesday.

High speed train [File photo]

China Railway Group and China South Locomotive & Rolling Stock Corporation Limited are two potential suitors of the project by High Speed Two Ltd. (HS2), the oversight company set up by the British government. China South Locomotive's Thomas Wong said one of his company's objectives was to "expand our overseas market."

China and the U.K. in September 2011 signed a Memorandum of Understanding on infrastructure investment. Chairman of the China Investment Corporation, Lou Jiwei, said then that the CIC was ready to invest in British infrastructure projects.

Bidding has not yet started, said a HS2 official, who refused to make comments on the security of Chinese high speed rail.

Duncan Sparkes, counselor for trade and economic policy of the British Embassy to China, said earlier that the British government would attract more Chinese investments, especially investments in infrastructure.

The two phase project was approved by the British government on Jan. 10, with its first phase and second phase to be completed by 2026 and 2033 respectively.