Shenyang metro concession signed

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<p class="bodytext">CHINA: MTR Corp, Shenyang Metro Group and the Shenyang municipal government signed a 30-year operations and maintenance concession for the future metro lines 1 and 2 on May 7. </p><p class="bodytext">The contract signing follows from an agreement in principle which was signed last November. The metro will be operated by a joint venture of MTR Corp (49%) and Shenyang Metro Group (51%), a wholly-owned subsidiary of the municipal government. The concession includes pre-opening preparations, train and station operations and maintenance. It does not included asset replacement, for which the joint venture will receive a fee. </p><p class="bodytext">The 28 km Line 1 will open in 2010, running east-west with 22 underground stations. The 22 km north-south Line 2 will open two years later, with 19 underground stations. The 20bn yuan cost of the lines is being funded by the city government. </p><p class="bodytext">MTR Corp has also signed an agreement to explore property development opportunities along the routes, including the Golden Corridor revitalisation project along Line 2. </p><p class="bodytext">In the longer term 11 lines are planned. Studies are already underway for Line 4, and a northern extension of Line 2. </p><!--Element not supported - Type: 8 Name: #comment-->