SHENZHEN: The MTR Corporation announces today (3 August 2020) that its wholly owned subsidiary, MTR Consulting (Shenzhen) Co. Ltd, (MTR Consulting), taking the lead in a partnership with China Railway Electrification Bureau (Group) Co., Ltd (EEB), was awarded the tender for the Shenzhen Metro Line 13 (Line 13) Private-Public Partnership (PPP) project. An agreement will be signed with the Shenzhen Municipal Government for the investment and construction of the project, and operation of Line 13 for a term of 30 years after completion.
The PPP project will be undertaken by a Joint Venture Company in which MTR Consulting and EEB will have effective interest of 83% and 15% respectively, with the balance (2%) owned by a subsidiary of the Shenzhen Municipal Government. The PPP project covers track laying, rolling stock and electrical and mechanical systems including the signalling system and the automated fare collection system, with a total capital cost of approximately RMB¥4.91 billion to be financed by both debt and equity. The civil construction of the project is being undertaken by Shenzhen Metro Group Co., Ltd.
“We are delighted to be awarded the Line 13 PPP project and to participate in the railway network development of Shenzhen again after Shenzhen Line 4 and Line 4 North Extension,” said Dr Jacob Kam, CEO of MTR Corporation. “Building on our proven expertise in operating international railway services and experience in serving commutersin Shenzhen since 2010, we look forward to working closely with the Shenzhen Metro Group and delivering safe, reliable and convenient metro service to serve more commuters in this city. We will continue to contribute to improving the railway network of Shenzhen and further stimulating economic vitality in the Greater Bay Area.” The 22.4-kilometre Line 13 includes 16 stations extending from south to north in central Shenzhen. The line is expected to commence service in 2023.