Chinese Investment Group Unveils $11.2 Billion Deal in Scottish Infrastructure

File photo: Construction site of China Railway

Chinese investment group- China Railway No. 3 Engineering Group and SinoFortone Group, signed 10 billion euros (11.2 billion USD) infrastructure deal with Scotland. A memorandum of understanding was signed on Monday.

The deal paves way for bigger investment from China in green energy, transportation, and affordable housing.

China's involvement in Scotland's infrastructure projects will help improve its ground commuting system and is expected to spur local employment, industry experts said on Tuesday.

"With high-speed trains traveling at a speed of over 300 kilometers per hour, it certainly will help Scotland change the situation in which its ground commuting systems long been dominated by automobiles. And related projects can generate a large number of jobs and construction materials supplying businesses," said Luo Renjian, a researcher at the Institute of Transport Research at the National Development and Reform Commission.