Roadway No. 309 (Changzhi Section)

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New World Infrastructure, through its subsidiary, Lucky Strong Ltd., entered into a joint-venture agreement with Shanxi Province to build and operate the toll highway connecting Shihui and Guanzhuang in Changzhi city. The 22.2-km toll road demanded US$19.3 million, 65% financed with loans and 35% with equity. New World Infrastructure held 60% of the share in the project company, Shanxi Xinhuang Highways Ltd., while the state-owned company, Changzhi City Changda Highway Development Co., held the rest of the stake.The dual one-lane highway had 2 toll collection booths. The expected traffic flow is 2,000 vehicles per day (expected saturation capacity is 10,000 vehicles daily). The contract period was 25 years from the commencement of the operations which was scheduled for December 1999. None None