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01766 CRRC
RTNominal up5.050 +0.030 (+0.598%)
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20/12/2019 14:20

CRRC (01766) to set up project company for railway project

[ET Net News Agency, 20 December 2019] CRRC Corporation Limited (01766) said CRRC
Construction Engineering, Suzhou CRRC Construction Engineering and Times Electric (all of
which are subsidiaries of the company) formed a consortium with CRRC GROUP, Construction
and Investment Company and City Investment Fund Management Company.
They entered into an investment agreement with government implementation authorities of
a PPP project as well as a shareholders' agreement with government funding
representatives, respectively.
Pursuant to such agreements, the consortium and government funding representatives would
establish the project company with joint capital contribution to invest in a PPP project.
Upon establishment of the project company, CRRC Construction Engineering, Suzhou CRRC
Construction Engineering, Times Electric, CRRC GROUP, Construction and Investment Company
and City Investment Fund Management Company will hold 5.48%, 1%, 4%, 0.1%, 2.4% and
67.02%, respectively of the equity interests of the project company.
The project is the Wuxi-Jiangyin Intercity Railway Construction PPP Project. The total
length of the line would be 30.4 km, in which approximately 10.5 km for underground lines,
0.2 km for transitional section and approximately 19.7 km for elevated lines. There would
be 9 stations, including 5 underground stations and 4 elevated stations. (RC)

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