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Guangzhou Municipal Government has partially paid for compensation of Class I Highways to the Compan

Date: 2011-07-25
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 Yuexiu Transport Infrastructure (“the Company”) has announced on 28th October 2010 that, as notified by Guangzhou Municipal Government, the operation of Class I Highways should be terminated by 31st October 2010, so the Company needs to return all of its interests to Guangzhou Municipal Government(including the interests in Nanxin, Wei’an,Xinguang and Tailong toll station). In return for the exit from operation, Guangzhou Municipal Government would pay for the Company a sum of cash compensation of RMB 1,313 million.(As to 31st December 2010,the account receivable from Guangzhou Municipal Government would be RMB 1,059 million)

On 25th July 2011, Guangzhou Municipal Government has paid the Company for RMB 543 million, accounting for 50% of the entire compensation.

 

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