A consortium, including a subsidiary of China Railway Construction Corporation (CRCC) has won the contract for a major development project in eastern China.
The PPP project, of “environmental remediation and landscape engineering” at the Yuchi River Ecological Park, will be undertaken by the CRCC subsidiary Urban Construction Group and China Resources SZITIC Trust.
Valued at Rmb 1,576 million (US$ 232 million), the contract calls for municipal road works, urban landscaping, bridge work and the development of a sewer network.
The project will commence with a four-year construction period across each aspect of the development, followed by a seven-year operating period.
According to the release from CRCC, Urban Construction Group will take control of general construction on the project, with China Resources SZITIC Trust largely responsible for fundraising activities.