Phase 2 PPP project of Qingdao Subway with contract value of 14,000 million yuan is won by CCCC
Source:East China Regional HeadquartersTime:2016-11-01
On October 28, CCCC won the
bid for Phase 2 PPP project of Hongdao-Jiaonan Intercity Rail Transit in
Qingdao. Located at the Qingdao West Coast New Area, with a full length of some
40 km, an operation period of 25 years, a construction period of four years and
a total investment of some 14,000 million yuan, the project is connected to the
south and north ends of Phase 1.
CCCC has worked with Qingdao Metro and
financial institutions to explore the innovative "Phase 2 model" for
rail transit PPP Project cooperation. The model features the integration of
limited partnership fund establishment with direct investment, and the government
will carry out procurement from constructing investors and non-constructing
investors, separately. Through business and financial model innovation, the
role relationship among subway investors, financial institutions and
constructors under PPP model will further change from counterparties to
partners, to different parties' resource advantage into effectively, and
accomplish the sharing of risks and benefits.
CCCC has achieved a cumulative
construction output value of 2,750 million yuan after winning the bid for Phase
1 in October 2014, and is expected to break through bridges and tunnels in
mid-November and December 2016 respectively, laying a solid foundation for
Phase 2 cooperation.