China started construction of the first PPP-funded railway
Almaty. December 26. Silkroadnews – China started construction of the first public-private partnership (PPP) funded high-speed railway, “Xinhua” agency reports.
The cost of construction of 270 km long high-speed railway in China’s Zhejiang province is estimated as 46.2 billion yuan ($6.9 billion), with private investors providing for 51% of the investments.
In September, the government of the province has signed an agreement on Shanghai Fosun High Technology Co company’s participation in the project. The other partners are the auto manufacturers Zhejiang Geely Holding Group and Wanfeng Auto Holding Group.
The agreement provides for a 30-year franchise for the right on the highway construction and operation. Construction is planned to be completed in four years.
