China Railway Construction Corporation (CRCC) has announced the start of the construction phase of the 266.9 km Hangzhou-Shaoxing-Taizhou high-speed railway, located in Zhejiang Province.

CRCC signed a 30-year concession contract to build and operate the railway in September 2017. Other shareholders in the concession include Fosun International, Hongrun Construction Group (12.75%), Wangfeng Auto Holding Group, Zhejiang United Mechanical & Electrical and Ping An.

The CNY44.9 billion (US$6.69 billion) rail line will deliver up to 350 kph top speed. It is the first HSR in China to be delivered through a public-private partnership (PPP).