Expressways Open for Bidding in Shanghai

Shanghai Monday offered its planned 650-kilometer-long expressway network for bidding by overseas and domestic investors.

This signals that the source of funds for the construction of the city's basic facilities will shift from government to diversified channels, including companies. The expressways will be built by 2010 at a total cost of 40 billion yuan.

The first phase of the expressways open for bidding have a combined length of 255 kilometers, and are expected to be built at a cost of 10.2 billion yuan.

Authorities note that the city will adopt a series of preferential policies to ensure profits for investors in the expressways.

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