Central Asia To Spend $39B For New Roads, Rails To China

Law360, New York (October 24, 2013, 3:54 PM EDT) -- The Central Asia Regional Economic Cooperation countries plan to develop new roads and rails connecting China to Central Asia, requiring an investment of $38.8 billion during the next seven years, the Asian Development Bank announced today.

CAREC ministers from 10 Central Asian member countries endorsed the project, saying that there's a huge potential for overland trade between them and China. The construction will involve paved roads, railways and border facilities. CAREC wants the project finished by 2020.

“To increase trade outside the region, CAREC will need...
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