Total investments and proceeds to the project

      Total investments for Qingdao Bay Bridge Project are 9.082 billion Yuan, which will be implemented in the manner of franchise operation.

      With the construction period of 3.5 years and operation period of 25 years, ownership and management right of the Project will be totally transferred to Qingdao municipal government at the expiry of the project.

      The estimated traffic volume of vehicles on the Bay Bridge during the operation period will be: 30849 vehicles /day till 2010, 45136 vehicles/ day till 2015, 58888 vehicles/day till 2020 and 77795 vehicles/day till 2029. Investment return period will be 15 years (since the franchise operation year). The project can both bring significant social benefits and considerable economic benefits as well through estimation.

      Capital for the project

      In accordance with “The Company Law of the People is Republic of China”, the funds owned by enterprise of 3.1 billion Yuan and 35% capital ratio will be singly and totally contributed by Shandong High Speed Group Corporation. The capital will be available gradually following the project procedure; at present project capital for the first phase (1 billion) has been in place.

      Financing for the project

      For the project, it is intended to apply for bank loan of 6 billion Yuan, which has attracted great attention and support from famous financial institutions for their great hope to the operation prospect of Bay Bridge. Shandong High Speed Group Corporation will closely cooperate with financial institutions under the great supports of leaders from the head office of the group to actively implement credit approval for the Project. At present, the financing for the Project goes smoothly, seventeen banks including ICBC and CBC etc have completed credit approval for the Bay Bridge project; moreover, accumulative total amount of credit lines from banks has reached 26 billion Yuan, which would guarantee the fund need for the project construction.

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