By Ronnie Harui
A consortium of China Railway Construction Corp. (1186.HK) has won the bid for a phase-one engineering project of Tianjin Metro Line No. 8 worth around 24.48 billion yuan ($3.55 billion).
The total value of the project consists of an availability service fee of CNY1.3 billion a year and an initial agreed service fee of CNY23.77 per vehicle-kilometer, the company said late Tuesday.
The project period is 26 years, of which five years are for construction and the remainder for operation.
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