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News -
Economy
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Wednesday, 19 December 2007 06:49 |
 Another important step has
been taken in building a transport route from Asia through Mongolia
to Europe, as China announced it has received credit to upgrade the
Urumqi-Kashgar road.
Located in the northwest of
China, the enhanced road will become a four-lane divided highway. Carrying
cargo and passengers, this new highway will be an important part of
the road and rail system heading into Mongolia.
Assistance for construction
of the expressway will come from a $150 million USD loan from The Asian
Development Bank.
The entire expressway project
is expected to cost $594 million USD. Besides the loan from the Asia
Development Bank, the PRC's Ministry of Communications, China
Development Bank and Xinjiang Uygur Autonomous Regional Government will
cover the remaining costs.
The Urumqi-Kashgar road is
being developed as part of the Central Asian Regional Economic Cooperation
Program connecting Xinjiang with Kazakhstan, Kyrgyz Republic, Mongolia,
and Tajikistan. Additionally, it will become part of the Asian Highway
4 corridor designated by the United Nations Economic and Social Commission
for Asia and the Pacific, linking China with Pakistan.
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