Concession Agreement for Beijing Metro Line 14 Initialled

Beijing MTR Corporation Limited (Beijing MTR), the joint venture company comprising MTR Corporation, Beijing Infrastructure Investment Corporation Limited and Beijing Capital Group Limited, today initialled a Concession Agreement with the Beijing Municipal Government for the Public-Private Partnership (PPP) project for Beijing Metro Line 14.

“It is an exciting time for MTR to extend our participation in Beijing following Beijing Metro Line 4 and the Daxing Line extension, said Mr Jay Walder, Chief Executive Officer of MTR Corporation, “This project is not only a major milestone for the Corporation’s growing business in the Mainland, but it also demonstrates our commitment to providing quality service in the capital city.”

“Beijing Metro Line 14 will be the backbone of public transport between the southern and eastern parts of Beijing, and it will offer great convenience to the local community when it opens,” added Mr Richard Wong, General Manager of Beijing MTR.

The RMB¥50 billion Beijing Metro Line 14 is divided into Parts A and B. Part A, which is about 70% of the project’s capital cost, is for the line’s civil construction and being undertaken by the Beijing Infrastructure Investment Corporation Limited. Under the PPP arrangement, Beijing MTR would be responsible for Part B which covers the electrical and mechanical systems as well as rolling stock. Beijing MTR would invest approximately RMB¥15 billion or 30% of the total capital cost for Part B. MTR Corporation will contribute additional equity of approximately RMB¥2.2 billion to Beijing MTR to support the investment in Beijing Metro Line 14.

As part of the Concession Agreement, Beijing MTR would also undertake the operations and maintenance of Beijing Metro Line 14 for a term of 30 years. The Concession Agreement is subject to approval by relevant authorities in the Mainland.

The 47.3-kilometre, 37-station Beijing Metro Line 14 stretches from Zhangguozhuang Station (張郭莊站) in the southern Fengtai District (豐台區) to Shangezhuang Station (善 各莊站) in the eastern Chaoyang District (朝陽區), and it passes through tourist spot Chaoyang Park and central business district Wangjing (望京). The Line features 10
interchange stations, and passengers will be able to interchange to Beijing Metro Line 4 at
Beijing South Railway Station (北京南站) when the line commences operation.

Construction work for the line started in 2010 and it will open in two phases with Phase 1 of approximately 12.7 kilometres expected to open in 2013 and Phase 2 in 2015.

Beijing MTR currently operates Beijing Metro Line 4 and Beijing Metro Daxing Line. MTR Corporation holds a 49% stake in Beijing MTR, while the Beijing Capital Group Limited and Beijing Infrastructure Investment Corporation Limited own 49% and 2% of the joint venture company’s shares respectively.

 

Source : noodls.com

We, Net Translation Services Limited, are in your disposal with our experienced translator team of 35 persons specialized in Rail Systems Terminology in English, German, Russian, French languages Please visit website: Nettercume.com.tr for our references.

74 / 9.539