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SCMP Reporter

Hong Kong-listed Shenzhen Expressway plans to begin building a 2.87 billion yuan link from  Nantou to Guangming in Shenzhen next year.

Building  of the Nanguang Expressway will begin in the first half of next year  and  should be completed in 2? years,  the company said yesterday.

The  initial annual return is estimated  to be 9 per cent to 10 per cent of the building  cost. The investment is expected to be fully repaid after 12? years.

The company said the expressway would be  part of the city's 'Seven East-West and 13 North-South' trunk road network.

'It is also one of the outer-radiating expressways of the Pearl River Delta region and a fast and convenient way of crossing from Hong Kong through Shenzhen to the region,' the company  said.

The 30.2km,  two-way, six-lane expressway will  start  at the northern end of Qilin North Road in Shenzhen's Nanshan district. It will connect with the cross-border Shenzhen-Hong Kong Western Corridor that is expected to be completed in early 2006.

Company chairman Chen Chao said there were three 'main aspects of significance' for the building of the expressway.

'First, it will help to realise the new road would boost the economic development strategies of Shenzhen and the aim of linking every town with expressway,'  Mr Chen said.

'It will also stimulate the common economic development of Hong Kong, Shenzhen and the  rest of the Pearl River delta region. Lastly, it will further improve the border transport system and make the best use of the Shenzhen-Hong Kong Western Corridor,' he said.

'Our group's investment in the expressway  aims to fulfil the region's need for  economic development while ... enlarging our assets  and expanding  our toll road network.'

Shenzhen Expressway's  share price closed  unchanged at  $2.90 yesterday.

on the road

Nanguang Expressway building should be complete in 2007

Investment of 2.87b yuan will be fully repaid in 121/2 years

Toll road will stimulate common development in the region



Shenzhen Expressway to build 2.87b yuan Nanguang highway