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00390 CHINA RAILWAY
RTNominal down4.680 -0.010 (-0.213%)
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10/12/2019 14:42

China Railway (00390) gets two PPP projects

[ET Net News Agency, 10 December 2019] China Railway Group Limited (00390) said the
consortium comprising the company and its wholly-owned subsidiary, China Railway City
Development and Investment Group Co., Ltd., won the bid for the PPP project of
Leshan-Xichang Expressway (Leshan-Mabian segment) and the bid for the PPP project of the
segment from Zhaotong (located at the boundary of Sichuan Province and Yunnan Province) to
Xichang of the G7611 Line.
The total length of the Leshan-Xichang Expressway (Leshan-Mabian segment) is about 84.7
kilometres, with an estimated total investment of about RMB16.479 billion; the cooperation
period of the project is 34 years, of which the construction period is 4 years. The
government representative and the private capital investor will jointly fund the
establishment of the project company, of which the government representative will hold 49%
equity interest, and the consortium as the private capital investor will hold 51% equity
interest in the project company; the capital invested in the project covers 25% of the
total investment (i.e. RMB4.12 billion), of which RMB2.1 billion will be contributed by
the private capital investor and RMB2.02 billion will be contributed by the government
representative. During the cooperation period, the project company will recover the
investment and reasonable returns through user-charges and viability gap funding. After
the cooperation period expires, the project company will hand over the project to the
government-designated agency without compensation.
The total length of the segment from Zhaotong (located at the boundary of Sichuan
Province and Yunnan Province) to Xichang of the G7611 Line is 184.8 kilometres, of which
16.7 kilometres will share the same road as the Expressway Along the Yangtze River, and
168.1 kilometres will be independently constructed in this project, with an estimated
total investment of about RMB30.012 billion. The cooperation period of the project is
about 34 years, of which the construction period will be 5 years. The capital invested in
the project covers no less than 20% of the total investment of the project (i.e. RMB6.0024
billion), and the consortium as the private capital investor will invest in the project
company. During the cooperation period, the project company will recover the investment
and reasonable returns through viability gap funding during the construction period and
user-charges. After the cooperation period expires, the project company will hand over the
project to the government-designated agency without compensation. (RC)

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