Shanghai-based Chinese firm Greenland Group signed an agreement with the Jinan Municipal Government (Shandong province in Eastern China) to invest 12 billion yuan (USD 1.9 billion) in Jinan on the construction of a new metro line, APT Newschannel reports.
Greenland Group will apply the project financing, design and construction as the general contractor along with comprehensive property development and operations management with other parties as a way to realise the PPP mode of cooperation.
China’s National Development and Reform Commission (NDRC) has approved construction of the Yuan 43.7bn (USD 7bn) first phase of the metro network in Jinan, the capital of Shandong province. Phase 1 comprises three lines totalling 80.6km. All three lines will have a maximum speed of 100-120km/h and services will be operated by six-car Type B metro trains.
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