[ET Net News Agency, 13 September 2018] China Communications Construction (01800) said
to jointly develop the expressway network PPP engineering project (phase III) in Yancheng
City, the company together with its subsidiaries CCCC First Highway Engineering (CFHEC)
and CCCC Third Harbour Engineering (CTHEC), entered into the joint venture agreement with
Shanghai Zhenhua Heavy Industries (ZPMC), Yancheng Expressway Network Construction
(Yancheng Expressway) and China PPP Investment Funds (CPPPF) (on behalf of CPPPF Jiangsu)
in relation to the proposed formation of the project company.
The registered capital of the project company is RMB1,156 million, of which RMB231.24
million, RMB115.62 million and RMB115.62 million, will be contributed by the company,
CFHEC and CTHEC, accounting for 20%, 10% and 10% of the total registered capital of the
project company, respectively.
The business scope of the project company is expected to include the investment,
construction, management, operation and maintenance of the urban expressway network
engineering projects; the bidding, general contracting, management and maintenance of the
engineering projects; and the wholesale and retail of the construction materials and
machinery. (SC)