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Beijing Urban Construction Design & Development Group has signed the Outer Ring North Road PPP project located in Anqing City, the People's Republic of China.
On 6 May 2015, Beijing Urban Construction Group entered into an agreement for the road PPP project. Under the agreement, the company and Anqing Urban Construction Investment and Development, an independent third party and a wholly state-owned enterprise, will jointly establish a project company.
The registered capital of the project company is RMB500 million (US$81.7 million) with 88% and 12% of the registered capital to be subscribed by Beijing Urban Construction Group and Anqing Urban Construction Investment and Development respectively.
According to the tender, the project will adopt PPP model, with a construction period not more than 2 years and an operation period for 11 years. The preferred bidder is responsible for the investment, financing, construction, operation and maintenance.
The Outer Ring North Road of Anqing City is located in the eastern and northern region of Anqing City in Anhui Province.
Anqing is a prefecture-level city in the southwest of Anhui province, China. It borders Lu'an to the north, Hefei and Wuhu to the northeast, Tongling to the east, Chizhou to the southeast, and the provinces of Jiangxi and Hubei to the south and west respectively. Its population was 5.3 million at the 2010 census.