Sichuan Road & Bridge secures major G5 expressway expansion contract

Sichuan Road & Bridge Construction Group Co., Ltd. announced that its subsidiaries, Sichuan Highway & Bridge Construction Group Co., Ltd. (Road & Bridge Group) and Sichuan Communications Construction Group Co., Ltd. (CCCG Group), signed a significant engineering general contracting contract for the G5 Beijing-Kunming Expressway Chengdu-Ya'an section expansion project. This follows the joint venture's successful bid and prior investment agreement.

The contract, signed with Sichuan Chengya Expressway Co., Ltd., outlines specific construction sections. CCCG Group's sections are valued at up to 13.13 bn yuan, while Road & Bridge Group's sections are capped at 3.91 bn yuan. These maximum prices reflect a 10% discount from the initial budget approvals. The total project duration is planned for 48 months from the issuance of the notice to proceed.

The contract stipulates an advance payment totaling 15% of the contract price, disbursed in two tranches. The first 5% is paid upon contract effectiveness. The remaining 10% is paid after the design budget approval, mobilization of key personnel and equipment, and the first site meeting. Payments will be made monthly, with a minimum mid-term payment of 5m yuan.