(MENAFN - Qatar News Agency) China's train manufacturers will likely see booming revenues in 2013, as railway authorities have released an ambitious bullet train purchase plan.
The Ministry of Railways (MOR) is considering increasing its investment in high-speed train purchases to 117 billion yuan (18.63 billion U.S. dollars), up 8 percent from last year, Xinhua news has reported. For China's two leading train manufacturers, China CNR Corp.
and the CSR Corporation, the move would mean a prospective combined order of about 290 bullet trains and 1,000 conventional trains to be delivered in 2013. In 2012, both companies delivered a combined total of 153 trains to the ministry.
An industry insider who declined to be named estimated that the number of bullet trains currently in operation can only meet 70 percent of the total demand.
China currently has more than 6,800 km of high-speed railway lines, with trains operating at speeds of over 200 km per hour. The total length is expected to reach about 18,000 km by 2015.