China plans to auction one unprofitable state-owned railway – xinhua

From Xinhua via People’s Daily Online:

A 62-kilometer state-owned in South China will be sold off soon, which may possibly become the first in China to be completely owned by non-public investors.

The state-owned Luoding Railway Co., an unprofitable coal carrier servicing two undeveloped cities in South China’s Guangdong Province, has been announced for at the website of Guangzhou Enterprises Mergers & Acquisitions Services last week.

An official with the Guangzhou Enterprises Mergers & Acquisitions Services told Xinhua Sunday that it’s the first time for the agency to deal with an auction on a railway company’s total assets. [Full Text]

July 24, 2006, 5:35 AM
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Categories: Economy