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CKI Signs Contract For Zengcheng Lixin Highway In Guangdong


25 March, 1997 - Hong Kong

At a contract signing ceremony held in Hong Kong this morning, Cheung Kong Infrastructure Holdings Limited (CKI) added another road to its network of transportation projects in Guangdong - a 30 kilometre highway in Zengcheng. Attending the ceremony was a 20 member delegation from the Chinese party, led by Mr Zheng Jin Rong, Secretary of the People's Government, Zengcheng City. Mr Le Xiao Min, Mayor of Zengcheng and Mr H L Kam, Managing Director of CKI signed the contract.

The Zengcheng Lixin Highway is a four-lane Class 1 highway that has been operational since October 1995. It represents a total investment of HK$200 million, in which CKI now has an equity investment of 51%. The joint venture will last for a period of 25 years.

"Over the past few months, CKI has been very active in discussions for projects both inside and outside of Guangdong Province. Recently, we signed a number of contracts in Fushun and Shenyang Cities in Liaoning Province; while in Guangdong, we have continued to keep a close eye on opportunities to further expand our portfolio in this fast-developing neighbouring province where a few of our project clusters exist," commented Mr Kam.

Mr Kam explained, "This highway in Zengcheng is the latest addition to CKI's network of transportation investments in Guangdong. It is an important link between two national trunk highways: National Highway 107 - connecting Guangzhou with Shenzhen, and National Highway 324 - running from Guangzhou to Shantou."

The Zengcheng Lixin Highway, which has been in operation for one and a half years, meets CKI's investment principles for both project maturity and profit contribution.

"Elsewhere in Guangdong, CKI already has transportation investments in a bridge and a highway in Shantou, eleven roads and bridges in Nanhai, two roads and a bridge in Jiangmen and the East-South Ring Road in Guangzhou. In total, CKI has invested or is committed to invest HK$3.6 billion in the transportation infrastructure of Guangdong," continued Mr Kam.

Zengcheng, which is located in the Northeast Pearl River Delta, is approximately 60 km from the city of Guangzhou. With a population of over 700,000, Zengcheng is fast developing as an industrial base in Southern China. The city is also renowned for its lychees, which attract crowds of tourists every year.


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