China Railway Group Signs a Contract with Shenzen Metro Company

22 September 2008 Monday, 13:37
Metro underground

China Railway Group, the largest railway and highway builder in China has announced a build-transfer deal with the Shenzen Metro Company for the city’s No. 5 subway line worth RMB9.5bn ($13.9bn).

Shenzen Metro Line 5 Cost

The value of the contract accounts for 5.26% of China Railway’s operating revenue in 2007 under Chinese accounting standards, according to the company’s filing with the Shanghai Stock Exchange.

Shenzen Metro Line 5 Route

The No. 5 Metro line starts west at Qianhaiwan of the Nanshan District and ends at the transfer station with the planned No. 14 rail transit line in the west, traversing the old and new areas of the Bao’an District, Xili, Longhua, Buji, Huangbeiling of the Luohu District, the Nanshan District, the Bao’an District, the Longgang District and the Luohu District.

Shenzen Metro Line 5 Other Issues

The Metro line will form nine transfer stations with other operated and planned rail transit lines, four of which will be hub stations.

The deal, which is expected to boost the companies profitability accounts for 5.26% of China Railway’s operating revenue in 2007 under Chinese accounting standards, according to the company’s filing with the Shanghai Stock Exchange.

China Railway said the final contract price will be determined by Shenzhen municipal government, adding the project is expected to be completed within 42 months.

 

 

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