A consortium led by the Fosun Group has signed a 28,1 billion yuan (4,18 billion $) loan agreement with some banks to finance the construction of China's first private-venture high-speed rail line to be built and operated under the PPP concession.
269-kilometer Hangzhou-Shaoxing-Taizhou high-speed train line, to be made by Fosun Group (% 51), state-owned China Railway Company (% 15), Zhejiang Communication Investment Group and Zhejiang Province Government's joint venture.
China Development Bank, China Industrial and Commercial Bank, China Construction Bank, China Agricultural Bank and two other companies, led by Fosun International Ltd. and the Zhejiang provincial government will lead the project to a project managed by a consortium.
The total cost is 44,9 billion yuan, China's first private enterprise is scheduled to open at the end of 2021 of high-speed rail line. The company that owns the high-speed train line will run 30 throughout the year. The line will speed up to 350 km per hour and will have nine stations.