China State Construction Engineering Corporation Limited (601668.SH) Consortium Wins Concession Project for Qingdao Section of Laizhou-Qingdao Expressway

Stock News05-29

China State Construction Engineering Corporation Limited (601668.SH) announced that recently, the company, together with its subsidiaries China Construction First Group Corporation Limited, China Construction Second Engineering Bureau Co., Ltd., and China Construction Third Engineering Bureau Group Co., Ltd., formed a consortium and was awarded the concession project for the Qingdao section of the Laizhou-Qingdao Expressway. The project will be implemented under a Build-Operate-Transfer (BOT) concession model, with a project company to be jointly established by the government's capital contributor representative and the concession operator, holding 49% and 51% stakes, respectively. The project cooperation period is 28 years and 4 months, comprising a 6-month preparation phase, a 3-year construction phase, and a 24-year and 10-month operation phase. The estimated total investment for the project is approximately RMB 15.91 billion, with project capital accounting for about 20% of the estimated total investment. Upon the expiration of the operation period, the project assets will be transferred free of charge to the government or its designated unit.

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