Gelonghui, January 22丨Jianpeng Holdings (01722.HK) announced that Jianpeng Construction Engineering Co., Ltd. (“Jianpeng Construction”), a wholly-owned subsidiary of the company, received a successful bid dated December 19, 2023 from the Macau Government, indicating its intention to award a construction engineering contract (“contract”) relating to the construction project of the Macau Flyover (“Contract Project”) to Jianpeng Construction and a Macau Construction Company (“Cooperative Operator”), an independent third party unrelated to the company and the company's related persons.
On December 27, 2023, Jianpeng Construction and the cooperative operator signed a cooperative management agreement. According to the cooperative management agreement, Jianpeng Construction and the cooperative operator established Jianpeng Construction and the cooperative operator, which owns 60% and 40% respectively. According to communications between Jianpeng Construction and the cooperative operator and the Macau Government, the contract project is expected to commence in the second quarter of 2024.
After completion of all contract works, including some provisional contract amounts that may or may not be implemented, the total contract amount of the contract is expected to be around MOP 223 million, and the contract is expected to be completed around the fourth quarter of 2025.