Brief Introduction to QingDao Bay Bridge
Qingdao Bay Bridge, as the starting section of national express way from Qingdao to Lanzhou, is the key part of high way net of Shandong, which is consisted as "one bridge" in "one road, one bridge and one tunnel" of the transportation system crossing Jiaozhou Bay in Qingdao City Plan.
The main path of this bridge starts at 200m from Licun River Bridge of Jiaozhou Bay Express Way at Qingdao side and ends at 1km east to the express way at Huangdao side. The design starting point is connected to the south section of JiQing High Way. And overpass is necessary to connect Hongdao. The main constructions consist of Cangkou Shipping Channel Bridge, Hongdao Shipping Channle Bridge, Dagu River Shipping Channel Bridge, Non-Shipping-Channel Maritime Opening Bridge and Approach Bridge, Hongdao, Huangdao and Qingdao side connecting, Hongdao Overpass, Licun River Overpass and other transportation projects connecting to the main path. The main path is totally 28.047km long, in which the sea-crossing length is 25.171km, approach path at Qingdao side is 749m, 827.021m at Huangdao side and 1.3km in Hongdao side. The main bridge, one meter thick, is with six lanes of two-way and its design driving speed is 80km/h. The estimated investment is RMB 9.04billion.
This project got the approval by National Development and Reform Commission in March 2005, which authorized Qingdao Development and Reform Commission to approve the primary design in September 2005, and will be completed in 2010.
Total investments and proceeds to the project
Total investments for Qingdao Bay Bridge Project are 9.082 billion Yuan, which will be implemented in the manner of franchise operation.
With the construction period of 3.5 years and operation period of 25 years, ownership and management right of the Project will be totally transferred to Qingdao municipal government at the expiry of the project.
The estimated traffic volume of vehicles on the Bay Bridge during the operation period will be: 30849 vehicles /day till 2010, 45136 vehicles/ day till 2015, 58888 vehicles/day till 2020 and 77795 vehicles/day till 2029. Investment return period will be 15 years (since the franchise operation year). The project can both bring significant social benefits and considerable economic benefits as well through estimation.
Capital for the project
In accordance with “The Company Law of the People's Republic of China”, the funds owned by enterprise of 3.1 billion Yuan and 35% capital ratio will be singly and totally contributed by Shandong High Speed Group Corporation. The capital will be available gradually following the project procedure; at present project capital for the first phase (1 billion) has been in place.
Financing for the project
For the project, it’s intended to apply for bank loan of 6 billion Yuan, which has attracted great attention and support from famous financial institutions for their great hope to the operation prospect of Bay Bridge. Shandong High Speed Group Corporation will closely cooperate with financial institutions under the great supports of leaders from the head office of the group to actively implement credit approval for the Project. At present, the financing for the Project goes smoothly, seventeen banks including ICBC and CBC etc have completed credit approval for the Bay Bridge project; moreover, accumulative total amount of credit lines from banks has reached 26 billion Yuan, which would guarantee the fund need for the project construction.