G50 Shanghai - Chongqing Expressway (Guangde - Xuancheng section) reconstruction and expansion

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The project involves the reconstruction and expansion of the Guangde - Xuancheng section of G50 Shanghai - Chongqing Expressway in in Anhui province of China. The PPP's scope concerns: relocating 5 cross interchanges in Gaungde West, Shijie hub, Xuanguang hub, Xuangcheng East, and Xuancheng West; developing 5 new interchanges in Jiepai hub, Gaohu, Huagu hub, Honglin and Xuangcheng hub; constructing 2 new service areas in Guangde North and Honglin; expanding the existing Lvjin service area; expanding 2 interchanges of Guangde East and Guangde on the Guangde southern line; expanding the existing Guangde service area; expanding Xuanchang hub mainline from 4-lane to 8-lane. The section has a total length of 90km and is procured under a 30-year DBFOM concession with a 3-year construction period. Xuancheng Municipal government's Xuancheng Transportation Bureau awarded the project on 2 December, 2021 to a consortium formed by Anhui Transportation Holding Group (the controlling shareholder with 55.47%) and Xuancheng Transportation Investment (44.53%). The PPP's financing is on an 80/20 debt-to-equity basis and breaks down as: $1.51 billion (Rmb9.643 billion) debt; $432.76 million (Rmb2.756 billion) equity; and $216.53 million (Rmb1.379 billion) government subsidy. The sponsors have also derisked the financing by obtaining letters of intent from 2 Chinese banks to provide loans once the project company is established, which happened on an extraordinary general meeting of Anhui Transportation Holding held on 25 February, 2022. https://www1.hkexnews.hk/listedco/listconews/sehk/2022/0922/2022092200997.pdf Factiva: HK Bourse: Results Announcement From Anhui Expressway IJGlobal: Commercial close nears on $2bn+ China road PPP