(Yicai Global) July 17 -- Beijing Orient Landscape Environment Co. [SHE: 002310], an eco-tech enterprise, will cooperate with two other companies to build and operate a public private partnership (PPP) project for developing rural tourism in Nanchong, Sichuan Province in western China.
The Orient Landscape-led consortium won the CNY458.5 million (USD67.7 million) bid for the PPP project to develop the rural tourism in Xihe Eco Village, Shunqing District, Nanchong, the company said today. The project covers the comprehensive service area, waterfront corridor, Xishan Square complex and the other works.
The consortium will invest a total of CNY458.5 million in the project, with a projected capital gain of 7 percent, it said. The Orient Landscape will hold the controlling 88 percent stake, with the local government to have 10 percent, and the two investors 1 percent each.
The project will be carried out under the "design-build-operate (maintain)-transfer" model. The franchise period of the project will be 15 years, including a 3-year construction period and a 12-year operation and maintenance period.
Orient Landscape said he listed company would be responsible for financing, operation and overall management of the project, and the other two partners would be responsible for design and construction of the project.