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Beijing Olympic Park Observation Tower is pictured during the Belt and Road Forum in Beijing, China May 14, 2017. REUTERS/Stringer BEIJING (Reuters) - Behind China's trillion-dollar effort to build a modern Silk Road is a lending program of unprecedented breadth, one that will help build ports, roads and rail links, but could also leave some banks and many countries with quite a hangover. At the heart of that splurge are China's two policy lenders, China Development Bank (CDB) and Export-Import Bank of China (EXIM), which have between them already provided $200 billion in loans throughout Asia, the Middle East and even Africa. They are due to extend at least $55 billion more, according to announcements made during a lavish two-day Belt and Road summit in Beijing, which ends on Monday. Thanks to cheaper funding, CDB and EXIM have helped to unblock what Chinese president Xi Jinping on Sunday called a 'prominent challenge' to the Silk Road: the funding bottleneck. But as the Belt and Road project grows, so do the risks to policy banks, commercial lenders and borrowers, all of whom are tangled in projects with questionable business logic, bankers and analysts say. EXIM, seeking to contain risk, says it has imposed a debt ceiling for each country. CDB says it has applied strict limits on sovereign borrowers' credit lines and controls the concentration of loans. "For some countries, if we give them too many loans, too much debt, then the sustainability of its debt is questionable," Sun Ping, vice governor of EXIM, told reporters last week. For now, funds are cheap and plentiful, thanks to Beijing. Belt and Road infrastructure loans so far have been primarily negotiated government to government, with interest rates below those offered by commercial banks and extended repayment schedules, bankers and analysts said. Massive government capital injections, bonds priced as sovereign debt and access to the central bank's pledged supplementary lending program keep CDB and EXIM funding costs at rock bottom. In Indonesia, CDB has offered a 40-year concessionary loan, without asking for government debt guarantees, to finance 75 percent of the $5.29 billion Jakarta-Bandung Railway, Indonesia's first high-speed railway and a model infrastructure project for China's Belt and Road effort. The loans carry a 10-year grace period. A 60 percent portion is denominated in U.S. dollars carrying a 2 percent interest rate, and the remaining 40 percent calculated in Chinese yuan, carrying a 3.4 percent rate, according to a note by Bank of China International. CDB, the world's biggest development financing institution, says it is not seeking to "maximize profits", Vice President Ding Xiangqun told reporters last week. The concessionary financing has allowed China's big state-owned manufacturers and infrastructure developers to compete aggressively against foreign bidders. Forty-seven of China's 102 central-government-owned conglomerates participated in 1,676 Belt and Road projects, according to government statistics. China Communications Construction Group alone has notched up $40 billion of contracts and built 10,320 kilometres of road, 95 deepwater ports, 10 airports, 152 bridges and 2,080 railways in Belt and Road countries. China's central bank governor Zhou Xiaochuan is among those to warn that this reliance on cheap loans raises "risks and problems", starting with moral hazard and unsustainability. China has been caught out before; it is owed $65 billion by Venezuela, now torn by crisis. "The jurisdictions where many of these loans are going are places that would have difficulty getting loans from Western commercial banks – their credit ratings are not very good, or the projects in question often are not commercially viable," said Jack Yuan, a bank analyst at Fitch Ratings in Shanghai. "The broader concern is that capital continues to be mis-allocated by Chinese banks." China's state-owned commercial banks are being pushed to support the government initiative. Top lender Industrial and Commercial Bank of China participated in 212 Belt and Road projects, providing $67.4 billion in credit in total, Chairman Yi Huiman said on Monday. Bank of China plans to offer $100 billion in credit to such projects by year-end. "Actually, commercial banks are not very motivated," said a senior banker at a large Chinese commercial lender. "We don't provide concessionary loans, and we really don't want those countries to think that all Belt and Road loans are discounted."


News Article | May 12, 2017
Site: www.engineeringnews.co.za

Kenya is gearing up for a new era in railway transport with the impending commissioning of a standard-gauge railway (SGR) line on June 1. The East African nation has depended on a dilapidated 1-m-gauge railway system for more than a century, but that is about to change, following the completion of the $3.8-billion 472 km SGR line from the coastal city of Mombasa to Nairobi, the capital city. “The SGR line is the largest infrastructure project in post- independence Kenya. It’s commissioning will mean low freight transport costs, which is a good development for the economies of the region,” Kenya Railways MD Atanas Maina tells Engineering News. The line, constructed by China Communications Construction Company (CCCC), has the potential to reduce transport costs by as much as 35%. Australia-based construction company John Holland, a subsidiary of CCCC, has been contracted to operate the SGR line. “The SGR line will assist in lowering the logistics costs associated with freight storage and delivery, which will lead to low freight transport costs for the business community,” says Maina. The completion of the Mombasa–Nairobi line, which forms the first phase of a broader railway investment programme, is testament to Kenya’s determination to become East Africa’s transport hub. Apart from the new line, Kenya intends to construct a 3 500 km SGR network under the Railways Master Plan that will connect the country to Uganda, South Sudan and Ethiopia. Maina says the Mombasa–Nairobi line is critical for the development of Kenya because it will provide a more efficient mode of transport for freight in the northern corridor, the main transport route for cargo destined for not only Kenya but also Uganda, Rwanda and parts of the Democratic Republic of Congo. Trains will travel at 80 km/h, which will significantly reduce transit times for cargo. The line has a haulage capacity of up to 4 000 t a trip. Struggling Currently, cargo transport along the northern corridor, which competes with Tanzania’s central corridor, is mainly by road, at 97%. Rift Valley Railways, the operator of the 1-m-gauge line between Kenya and Uganda, has been struggling to operate profitably. “The SGR line will play a vital role in decongesting the Port of Mombasa, thus enable it to increase cargo throughput to the inland,” says Maina. The commissioning of the line comes at a time when cargo traffic at the Mombasa port is increasing, having gone up by 2.4% from 26.7-million tons in 2015 to 27.3-million tons in 2016. The SGR line is designed to carry 22-million tons of cargo a year, equivalent to 40% of the Mombasa port’s throughput. In anticipation of increased container throughput at the port, the Kenya government is modernising and expanding the inland container depot (ICD), in Nairobi. When completed, by August, the ICD will have five additional SGR lines serviced by six gantry cranes for offloading and loading containers, a staking yard for at least 5 000 twenty-foot equivalent units (TEUs) and a yearly throughput of 405 000 TEUs. Currently, the depot has a yearly throughput of 180 000 TEUs. The second phase of the SGR project will see the line being extended from Nairobi to Naivasha, a distance of 120 km, at a cost of $1.5-billion, funded by a loan from the Chinese government. Kenya has also signed construction agreements with CCCC covering Phase 2B, from Naivasha to Kisumu, and Phase 2C, from Kisumu to Malaba, on the Uganda border.


Kong X.,China Communications Construction Company Ltd.
Proceedings - 2016 9th International Symposium on Computational Intelligence and Design, ISCID 2016 | Year: 2017

During settlement, many methods will provide valuable information. When different methods combined properly, valuable information is variously used. Based on the principle of artificial intelligence and method of fuzzy mathematics, the fuzzy combination forecasting method of self-adaptively variable weight is proposed. According to matching degree, the weights can be revised, and then forecasting results can be accurate. The fuzzy combination forecasting method is used to the subgrade settlement in Changzhang expressway, which can provide the accuracy and applicability. © 2016 IEEE.


Kong X.,China Communications Construction Company Ltd.
Proceedings - 2016 9th International Symposium on Computational Intelligence and Design, ISCID 2016 | Year: 2017

In recent years, the theory and method of wavelet analysis is widely used in signal processing, pattern recognition, data compression, image processing and quantum physics. Compared with modulus maxima, wavelet packet decomposition and coefficient shrinkage de-noising method of wavelet transform, their advantages and disadvantages are analysed and summarized, and their respective scopes are obtained. The Noissin chosen as the original signal with noise is analysed and de-noised by the modulus maxima method of wavelet transform, meanwhile the usage conditions and key computing parameters are also obtained. Finally, the modulus maxima method of wavelet transform are successfully adopted to de-noised the monitoring results of shield tunnel, the data revised are reliably provided for tunnel healthy diagnosis. © 2016 IEEE.


Lin W.,China Communications Construction Company Ltd.
Modern Tunnelling Technology | Year: 2015

Since the construction of immersed tunnels involves numerous procedures such as prefabrication, floating, transportation, immersion and underwater connections, a series of temporary auxiliary facilities are required for their installation. Based on domestic and international findings regarding temporary auxiliary facilities for the installation of immersed tunnels and referencing the design and construction of the Hong Kong-Zhuhai-Macau Bridge (HZMB) Immersed Tunnel Project, this paper systematically divides the temporary auxiliary facilities into different types and analyzes their features and the items needed to meet element construction requirements. The research results show that temporary auxiliary facilities for the installation of immersed tunnels involve numerous complex systems and professions, and the final scheme should be determined by considering the actual demands of the project with classified problems, facility features, capacity and engineering factors. ©, 2015, Editorial Office of "Modern Tunnelling Technology". All right reserved.


Yao Z.,China Communications Construction Company Ltd.
Modern Tunnelling Technology | Year: 2015

Because of the complexity and uncertainty of geological conditions, risk assessments for the construction safety of underwater shield tunnels have become an important research topic in underground engineering. Based on the Nanjing Weisan Road river-crossing tunnel construction, this paper analyzes the identification of construction risk factors and evaluation of construction risks in the shield-driven section and formulates control measures for the various risk factors. The analysis results show that hyperbaric intervention in the shield chamber is the primary goal of risk control for such shield tunnels as the Nanjing Weisan Road river-crossing tunnel, which passes through mixed ground with high water pressure and permeability for long distances. Risk may be reduced by reducing the changing times of cutters, setting a reasonable face support pressure and ensuring the formation of a stable filter cake on the working face. Risk during the process of shield tunnelling is mainly controlled by the detection of shield tunnelling parameters and cause analysis of parameter anomalies while the shield machine is shut down; complete risk control measures, such as a risk emergency plan and emergency supplies, are also important measures for reducing risks. ©, 2015, Editorial Office of "Modern Tunnelling Technology". All right reserved.


Xu Z.,China Communications Construction Company Ltd. | Hu M.,China Communications Construction Company Ltd.
Modern Tunnelling Technology | Year: 2013

Aeolian sand features a loose structure as well as low cohesive force and shear strength, which means that it is apt to become loose and deformed under external force. This paper presents the deficiencies of conventional long pipe roof grouting reinforcement for tunneling in aeolian sand, including serious sand leakage, difficulty controlling the deformation at the tunnel face, and a long construction period. These deficiencies may be overcome by using a vertical jet grouting pile on the ground for surrounding rock reinforcement and a horizontal jet grouting pile in the tunnel for advanced support. Site monitoring and measurements show that crown settlement and peripheral convergence induced by long pipe roof grouting reinforcement are 6.5 times and 3.6 times that induced by jet grouting pile reinforcement respectively. Furthermore, the construction duration with the pipe roof scheme is 1.9 times longer than that with jet grouting.


Xia R.,China Communications Construction Company Ltd.
Modern Tunnelling Technology | Year: 2014

Using domestic and foreign experiences in non-ballasted track construction and related technical documents as references and the double-block non-ballasted track construction of tunnel groups on the Gui-Guang railway as a background, the equipment configuration and organization of logistics for non-ballasted track construction for tunnel groups in mountain areas were studied and the related procedures for construction in a double-track tunnel are proposed in this paper. Engineering practices indicate that in-situ assembly of the track panel using a combined track framework could be adapted to adjust to the curve radius of the track and guarantee the technical indexes of non-ballasted track construction, therefore having rapid construction conversion capability. With high precision and stiffness, the assembled track framework is recyclable to shorten the construction period and save construction costs.


Kong X.,China Communications Construction Company Ltd.
Geotechnical Special Publication | Year: 2016

For satisfying the requirements of normal running and enlarged outer section in stabling line, parallel neighborhood metro tunnel with two different inner sections is adopted in Xi'an Urban Rail Transit Line One between North Zaoyuan Road and Hancheng Road. Based on the characteristics of different inner sections and small clear spacing, 2D-FEM was applied to simulate and analyze four construction schemes, of which shield method was adopted in left tunnel with small inner section and double-heading construction method or cross diaphragm method for right tunnel with large inner section. The results show that compared with the construction scheme that the tunnel with small inner section is firstly excavated, the larger tunnel by double-heading constructed is first accomplished can evidently reduce the disturbance effect on surrounding rock, reach better state mechanical of tunnel lining, in order to ensure safety construction. © ASCE.


Kong X.,China Communications Construction Company Ltd.
Geotechnical Special Publication | Year: 2016

In recent years, the theory and method of wavelet analysis is widely used in signal processing, pattern recognition, data compression, image processing, and quantum physics. Compared with modulus maxima, wavelet packet decomposition and coefficient shrinkage de-noising method of wavelet transform, their advantages and disadvantages are analysed and summarized, and their respective scopes are obtained. The Noissin chosen as the original signal with noise is analysed and de-noised by the modulus maxima method of wavelet transform, meanwhile the usage conditions and key computing parameters are also obtained. Finally, the modulus maxima method of wavelet transform are successfully adopted to de-noised the monitoring results of shield tunnel, the data revised are reliably provided for tunnel healthy diagnosis. © ASCE.

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