Guangzhou Three Bridges

cancelled

In November 1996, Soundfull Developments, a wholly-owned subsidiary of New World Infrastructure (NWI), signed a joint venture contract with the SOE, Guangzhou City Tunnels Development Company. The jv led to the creation Guangzhou New World Bridges Construction Limited to build and operate three bridges: the 2.3km Hedong Bridge, 0.98km Jiefang Bridge, and 0.98km Jiangwan Bridge. Hedong and Jiangwan are dual 3-lane bridges, and Jiefang is a dual 2-lane bridge. NWI has a 70% equity stake in the jv and a 50% profit share. NWI contributed a total of US$ 208.23 million - US$ 181.88 million as equity and US$ 26.35 million as a loan. In early 1998, the company expected an average annual traffic flow of 36,000 vehicles per day on the Hedong Bridge and 51,000 vehicles per day on the other bridges. The Jiefang and Jiangwan bridges were opened to the public in February 1998. In Jan. 2001, New World sold its stake in the company to a Chinese party, Guangzhou Construction Investment Development Company Limited, for US$ 174 million.