Sapphire’s subsidiary and consortium partners wins $277 mil PPP project in Chengdu

SINGAPORE (Nov 19): Sapphire Corporation’s 97.6% owned subsidiary, Ranken Railway Construction Group Co, and consortium partners have secured a PPP project in Chengdu, Sichuan Province, China.

The cost of this PPP project is estimated at RMB 1.4 billion ($277 million), where 20% of the cost will be funded by consortium partners who will together form a project company and the remaining 80% funded by project financing from financial institutions.

The PPP project will focus on a broader urban renewal effort to create a greener living environment in Wuhou District and involves the design, build, finance and management of ecological restoration, flood control measures and building infrastructures along an 18.68km embankment along Jiang An River, one of the key waterways in Chengdu.

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