USD 700 million metro PPP project awarded in China
The Shenzhen Municipal Government in China has awarded MTR Consulting and China Railway Electrification Bureau (EEB) the tender for the Shenzhen Metro Line 13 (Line 13) Private-Public Partnership (PPP) project. An agreement will be signed for the investment and construction of the project, and operation of Line 13 for a term of 30 years after completion.
The PPP project will be undertaken by a Joint Venture Company in which MTR Consulting and EEB will have an effective interest of 83% and 15% respectively, with the balance (2%) owned by a subsidiary of Shenzhen Municipal Government.
The PPP project covers track laying, rolling stock and electrical and mechanical systems including the signaling system and the automated fare collection system, with a total capital cost of approximately RMY 4.91 billion (US$ 704.10 million) to be financed by both debt and equity. The civil construction of the project is being undertaken by Shenzhen Metro Group Co., Ltd.
The 22.4-kilometer Line 13 includes 16 stations extending from south to north in central Shenzhen. The line is expected to commence service in 2023.
“We are delighted to be awarded the Line 13 PPP project and to participate in the railway network development of Shenzhen again after Shenzhen Line 4 and Line 4 North Extension,” said Dr Jacob Kam, CEO of MTR Corporation. “Building on our proven expertise in operating international railway services and experience in serving commuters in Shenzhen since 2010, we look forward to working closely with the Shenzhen Metro Group and delivering safe, reliable and convenient metro service to serve more commuters in this city. We will continue to contribute to improving the railway network of Shenzhen and further stimulating economic vitality in the Greater Bay Area.”