East China's Anhui Province will invest 50 billion yuan to build a freeway network linking this provincial capital with 16 cities in the next five years.
To offset a deficit, the provincial government has decided to raise 10 billion yuan from other countries and regions in various channels.
The province will transfer the right of operation of 10 highways to overseas investors and welcomes foreigners to invest in the construction of eight roads which are being built.
Since the mid 1980s, Anhui has raised 4 billion yuan from abroad for highway construction in terms of issuing H shares, borrowing loans from the World Bank and transferring the right of operation. An estimated 1,000 kilometers of freeway has been built with foreign funds.
(Xinhua 02/23/2001)
