Chinese consortium to invest $14bn in Scottish transport projects

Scottish transport projects: Chinese investment group SinoFortone Group and the China Railway No 3 Engineering Group have signed a memorandum of understanding with the Scottish government to  invest over $14bn in the country’s transport  infrastructure. Scotland’s First Minister Nicola Sturgeon hosted  Chinese Consul Genreal Pan Xinchun,  SinoFortune MD  Peter Zhang  and  China Railway No 3 Engineering Group’s senior adviser Sir Richard Heygate at the signing ceremony which took place at her official residence of Bute House in Edinburgh.
“We have been cooperating and engaging with China since 2007 and I further progressed Scotland’s business credentials during my trip [to China] last year,” Sturgeon said.  “This Memorandum of Understanding will strengthen our economic links with China in a number of areas,” Sturgeon said.
“With high-speed trains traveling at a speed of over 300km per hour, it certainly will help Scotland change the situation in which its ground commuting systems long been dominated by automobiles,” Luo Renjian, a researcher at the Institute of Transport Research at the National Development and Reform Commission, said. “And related projects can generate a large number of jobs and construction materials supplying businesses.”
Analysts said that significant investment in fields such as clean affordable housing, energy and transport may follow the agreement.

Source: chinadaily