Anhui Expressway (HKG:0995, SHA:600012) won a bid for the second phase of the Xuancheng section of the S24 Hangzhou-Hefei Expressway, with total project investment estimated at 6.57 billion yuan, according to a Friday Hong Kong bourse filing.

The company plans to form a joint venture with consortium members and Changgao Expressway to develop the 30.62-kilometer route under a build-operate-transfer model.

Construction is expected to take about three years, with a toll collection period of 352 months.

Anhui Expressway plans to contribute 26.3 million yuan for a 2% stake in the joint venture.