Anhui Expressway to establish project company with parent firm

Anhui Expressway (SSE:600012) announced its participation in establishing Anhui Bozhou-Dancheng Expressway Co., Ltd., a project company created to manage the Bozhou-Dancheng Expressway's Bozhou section. The company won the concession to manage the toll road in March and will invest CNY35 million, representing a 35% stake in the new entity, which has a registered capital of CNY100 million. Other investors include Anhui Transportation Holding Group (63% stake), Anhui Transportation Engineering Group (1%), Anhui Transportation Construction Engineering Group (0.5%), and Anhui Transportation Information Industry Co., Ltd. (0.5%). The Board has already approved the related-party transaction.