China State Construction Engineering Corporation (CSCEC; 601668.SH), one of China's leading construction firms and the provincial government of northwest China's Gansu would jointly establish a transportation development fund, said a release by Chins Construction on Sunday.
The fund would have a capital size of 100 billion yuan that will be paid in through several stages in the form of limited partnership. The fund would be dedicated to investment in building roads, railways and infrastructure on civil aviation within Gansu province along the Silk Road Economic Belt.
Money raised from the first phase would be used to fund expansion project of the Zhongchuan airport, the expressway from Wuhai to Maqin, the expressway from Zhongchuan airport to Lanzhou, the high-speed railway from Zhongwei to Lanzhou and other infrastructure projects.
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