Hangzhou Metro Line One

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The 53km Hangzhou Metro Line 1 located in Hangzhou City, Zhejiang Province was MTR Corporation's third metro project in the China's mainland. The Build Operate Transfer agreement was officially signed in Sep 2012. It was operated under a joint venture company named Hangzhou MTR Corporation Limited (Hangzhou MTR) which was also registered in Sep 2012. The new line was a Public-Private Partnership project with a total capital of about RMB 22bn. The joint venture was responsible for the mechanical and electrical element of the project (Part B) including the rolling stock which equaled to an investment of RMB 8.29bn (US$ 1313.79 million), out of which the equity was RMB 4.54bn. MTR Corporation had a 49% stake in Hangzhou MTR with the balance owned by Hangzhou Metro Group Company Limited. Hangzhou MTR would operate the line (both part A and part B) for 25 years. The metro line featured 31 stations running from the south to the north of the Hangzhou City. Construction commenced in Mar 2007 and the project came into operation in Nov 2012. The debt/equity ratio was 45/55.