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New Company to Manage Expressways in Central China
Central China's Henan Province Tuesday launched a new company to take charge of operating and constructing expressways and super large bridges in the province.
According to local sources, Henan Provincial Expressways Development Co. Ltd.,the new company, operates the existing Kaifeng-Luoyang, Anyang-Xinxiang, Zhengzhou-Luohe expressways, the highway bridge across the Yellow River in Zhengzhou, the provincial capital of Henan, and Luoyang-Sanmenxia and Sanmenxia-lingbao expressways which are still under construction.
Four other expressways--the Shanqiu-Kaifeng, Luohe-Zhumadian, Zhumadian-Xinyang, Xinyang-Zhengzhou--will also be put under the management of the new company when they are completed.
The new company has total assets worth 12.4 billion yuan.
The new company will also reorganize assets on Zhengzhou-Luohe Expressway and the highway bridge across the Yellow River in Zhengzhou to set up a subsidiary company and raise more funds for transport construction in Henan by listing the subsidiary on the stock market.
By 1999, Henan had 60,330 km of highways. The operational expressways total 465 km. Expressways under construction come to 724 km.
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