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A Sino-Canadian joint venture will be founded for the construction of the No. 5 subway in Beijing, the Beijing Daily reported Wednesday.
Of the total investment of 100 million yuan (US$12 million) for the project, 62.5 percent will come from the Beijing No. 5 Subway Investment Corp. of China, and the rest from SNC-Lavalin of Canada, the report says.
The No. 5 subway will run from Songjiazhuang in Fengtai District in southern Beijing to Taipingzhuang in Changping District in northern Beijing.
The city plans to build more subways and roads to improve its urban transportation to furnish the needs to host the Olympic Games in 2008.
(Xinhua News Agency 08/02/2001)
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