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Invested 44.89 billion! China's First Privately-Controlled High-speed Railway Finalizes Contract
On the afternoon of the 11th, a significant milestone was reached as the private consortium led by Fosun Group and the Zhejiang Provincial Government officially signed the investment contract for the Hangzhou-Shangtai Railway PPP Project. This marks a major shift in China's railway development model, as it is the country's first high-speed rail project controlled by private enterprises.
The Hangshangtai High Speed Rail is a groundbreaking initiative, with the private consortium holding 51% of the shares, making it the first time that social capital has achieved absolute control in railway investments. The project will be developed and operated using the Public-Private Partnership (PPP) model, where the project company is responsible for all aspects, including investment, financing, construction, operation, and maintenance. Upon the completion of the operational period, the assets will be transferred back to the Zhejiang government or its designated agency.
Located in eastern Zhejiang Province, the Hangshangtai High Speed Rail is a key component of China's coastal rapid passenger traffic network. It plays a vital role in the integrated transportation system of the Yangtze River Delta region, serving as an essential link in the urbanization corridor. The line supports intercity travel, tourism, and economic development along its route, operating as a dedicated passenger railway.
The route starts at Hangzhou East Railway Station, passing through Hangzhou South, Shaoxing North, New Shaoxing North, Dongguan, Sanjie, Xinzhou, Tiantai, Linhai, and finally reaching Taizhou Central Station. With a total length of 269 kilometers and a design speed of 350 km/h, the project has a total investment of 44.89 billion yuan and is expected to be fully operational by the end of 2017.
The cooperation period for the project spans 34 years, including a 4-year construction phase and a 30-year operation period. Industry experts highlight the significance of this project, noting that it represents a crucial step toward the marketization of China's railway sector, which has long been dominated by state monopolies. This new model could pave the way for more private participation in infrastructure development, fostering innovation and efficiency in the industry.