A consortium comprising the Company, China Railway 12th Bureau Group Co., Ltd. and China Railway 14th Bureau Group Co., Ltd., have won the bid for the Beijing Xingyan Expressway Project(北京興延高速公路項目), a public-private-partnership (PPP) project.
The project will have a construction term of 39 months (from the commencement date of the project) with an operation term of 25 years (from the date of the official opening to traffic and up to the delivery date of the project).
The total investment of the project is approximately RMB13,096 million, 49% and 51% of which are contributed by Beijing Capital Highway Development Group Co., Ltd. (北京市首都公路發展集團有限公司) with government funds and the consortium of the Company.
Both parties will jointly establish a project company as the legal representative for the investment, construction and operation of the project. Contribution made by government funds will not be included in investment revenue.