Anhui Expressway Company Limited

Active

Prospective

Anhui Expressway Company Limited operates and develops (class I) toll expressways. It is primarily the provincial government's toll-road operating and investment company. AEHC, a local state-owned enterprise, is the majority shareholder with a 65% stake. In November 1996, the Company sold a 35% stake in the form of H shares on the Hong Kong Stock Exchange. The new issue raised HK$ 871 million (US$ 113 million) to finance three highway projects and one bridge project. They are a) 150km Hefei-Gaohe section of Hefei-Jeizidum Highway; b) 100kmm Hefei-Bengbu section of Hefei-Xuzhou Highway; c) 56km section of Lianyungang-Xinjiang Highway; and d) Wuhu Bridge. At the time of the new issue Anhui Expressway operated the 134km Hening Expressway under a 30-year concession contract with the Anhui Department of Communications. The concession contract for this dual two-lane expressway started on August 15, 1996. In January and July 1997, the Company took over the two phases of the 30km Tiachang section of Highway 207, again under a 30-year concession. Under its concession contracts the company must apply to the Department of Communications for any toll adjustments. The company is not contractually protected from competition from other road operators. None None

Transport

China

High

World Bank Group

Project

Bridge, Government, Road