Venezuelan railway project with Chinese technology inaugurated

The line is expected to start operation in middle 2012 with the highest train speed of 220 km per hour.

During the televised inauguration, Chavez talked with representatives from the Chinese and Italian companies and told them that the railway will render great help for the country's economic development.

Chinese Ambassador to Venezuela Zhang Tuo attended the inauguration ceremony, saying the railway will be one of the most modern in the world, thanks to the technology provided by the China Railway Group Ltd. (Crec).

Bai Zhongren, vice president of Crec de Venezuela, said the railway is expected to transport 9.9 billion tons of goods each year and 5.8 billion passengers.

"We believe that with our determination and China's advanced technology, we will be able to complete the project with success," Bai said.

The China Railway Group Ltd. ranked 342nd in Fortune Magazine's "Global 500" list in 2007. It has built railway of about 70,000 km in China.

Editor:Liu Anqi