Chengdu Expressway Opts Out of Major Project Bid

Chengdu Expressway Co., Ltd. Class H (HK:1785) has released an update.

Chengdu Expressway Co., Ltd. has decided not to participate in the Chengdu-Emeishan Expressway project due to poor financial prospects and high risks, as assessed by its independent non-executive directors. Despite this, the consortium including the company’s controlling shareholders has successfully won the bid for the project, with a total investment of RMB18.821 billion. The company may consider its rights under the New Non-competition Agreement for future involvement.

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