China Railway Construction Corp. (CRC) won the bid of the 1st phase of Xuzhou Urban Rail Transit Line 2, a PPP project.
The scheduled construction period of the project is five years with a total investment of RMB 16.979 billion (USD 2.56 billion).
Xuzhou Line 2 concession project company as the contractee of the project, is jointly invested and established by Xuzhou Urban Rail Transit Co. and CRC, that serve as the general construction contractor of the project.
The registered capital of the Project Company amounts to RMB 1 billion (USD 152 million), of which RMB 510 million (USD 77.47 million) will be contributed by CRC (holding 51% equity interests in the project company) and RMB 490 million (USD 74.4 million) will be contributed by Xuzhou Rail Company (holding 49%). The cooperation period is 25 years with a five-year construction period included.
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