Maglev Transportation Development Co.,Ltd was established
with a registered capital of RMB 2.0billion invested
by Shanghai Shentong Holdlings Co.,Ltd. And others 5
share holders (Shenergy (Group) Co.,Ltd., Shanghai International
Group Co.,Ltd., Shanghai Baosteel Group Co.,Ltd., Shanghai
Automotive Industry (Group) Co.,Ltd., Shanghai Electric
(Group) Co.,Ltd.), (Later the registered capital increased
to RMB3.0billion and the number of shareholders expanded
to 7 with Shanghai Pudong Development Co.,Ltd as the
August 24 With
the approval of the state council, the state planning
commission officially ratified the Shanghai Maglev Demonstration
Line Project Proposal Report.
High-speed Transrapid Project Construction Headquarters
was established and Mr. Wu Xiangming was appointed as
commander with the official approval from the Shanghai
Municipal government, hence commencement of the project
was substantially ensured in terms of organization.
November 20 the
Feasibility Study Report of the Shanghai Maglev Demonstration
Line Project was accomplished on schedule by the Chinese
and German sides in cooperation and the report was submitted
to the state planning commission via Shanghai Municipal
Planning commission for approval.
January 23 “contract
of Supply and Service for Shanghai Maglev Line” at value
of DM1.293 billion was officially signed between SMTDC
and German Consortium consisting of Siemens AG, Thyssen
Transrapid GMBH and Transrapid International GMBH. Vice
Minister of MOST, Xu Guanhuan, Mayor of Shanghai ,Xu
Kuangdi and other leaders attended the signing ceremony.
March 1 Commencement
ceremony of the construction of Shanghai Maglev Demonstration
Line was held. Member of CPC Central Political Bureau
and Municipal Party Secretary, Huang Ju pressed the
pushbutton to start the construction, Mayor Xu Kuangdi
and other leaders attended the ceremony.
July 21 the casting
of the first prestressed concrete guideway beam for
the maglev project was completed, thus the beam processing
base gradually forming the capability of guideway beam
November 2 at the
beam processing base a grand ceremony was held for transporting
the first guideway beam of the Shanghai Maglev Demonstration
Line. Premier Zhu Rongji and German Chancellor Gerhard
Schroeder, in the company of their wives, were present
and personally unveiled the beam.
» December 31
A grand ceremony was held for the inauguration of
the Shanghai Maglev Train. The German Chancellor Gerhard
Schroeder and Chinese Premier Zhu Rongji came to Longyang
Road Station in person and cut the ribbon for its
» January 14 SMTDC,
jointly with Shanghai Internation Commodity Auction
Co.,Ltd., held a news comference at Fl. 2 Meeting
Room of Longyang Road Station concerning the title
crowning right of the first Maglev Train. SMTDC Deputy
GM Song Xiaojun attended the conference and newsmen
from major media were present.
March 3 at the
Longyang Road Station, Shanghai Xinhu Estate Development
Co.,Ltd. succeeded in obtaining the title crowning right
of the first maglev train for a period of two years
at the price of RMB20.9 million after a fierce contest.
July 14 two Maglev
Trains succeeded in accomplishing their intercrossing
on the double tracks at the max. Relative speed of 860km/h
for the first time.
October 11 passengers
boarded and alighted for the first time at the Pudong
International Airport Station during the Maglev Train’s
revenue operation to the public.