Growth in Railways boosts Asian links
September 2nd, 2008 - by Nazia Vasi
Man has a strange connection with trains, as parents reminisce in the pleasure of days spent watching the countryside whiz by, children remain transfixed at the speed and convenience of modern trains.
Today, as oil soars to above US$117 a barrel, and the cost of transporting goods across the world rises, Asian countries are re-investing in the railways. A recent report by Roland Berger consultants on behalf of Unife, the European railway industry association, says that the high speed train sector in Asia has grown 9 percent annually.
The Financial Times reported that railway professionals in many parts of the world have been convinced for some time the sector is reviving fast as roads clog up, goods have to be carried over longer distances and environmental awareness grows, the report adds.
While the US, Canada and Mexico will continue to see growth, Asia will overtake the region as the second-most important market, according to the report. China is undertaking a programme to build 17,000km of new lines, 7,000 of them dedicated, high-speed passenger lines.
The Asian region has also drafted a blueprint to link eight Asian countries from Singapore up to China’s southern city of Kunming by 2010. India and Bangladesh re-started train links between Kolkata and Dhaka after a hiatus of 43 years, while China strengthened its rail links with Nepal.
“In Asia we’re seeing growth in virtually all segments,” Mr Schwilling said. “We expect market growth in long-distance passenger transport, mass transit and also in the freight sector.”
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