Sichuan Expressway awards major contract for Chengya expansion project

Sichuan Expressway Company Limited has announced a disclosable transaction concerning the Chengya Expressway expansion project. The company, through its joint venture Chengya Expressway Company, has awarded a contract to China Huaxi for the construction of the expansion project. The contract covers roadbed, pavement, bridges, culverts, traffic safety, housing, greenery, and ancillary facilities for specific sections of the expressway.

The total contract price is capped at RMB2,075,319,898, representing a 10% reduction from the approved budget. The project has a planned construction period of 48 months from the commencement order. This transaction is classified as a disclosable transaction under Chapter 14 of the Listing Rules, as the applicable percentage ratios are between 5% and 25%.

The Chengya Expressway expansion is expected to enhance the group's cash flow, profit, and asset scale, extending the operating period of its road assets. China Huaxi's involvement is anticipated to ensure project quality and safety, leveraging their expertise in highway expansion.