August 24: The municipal government of Chengdu, China, introduced their new projects to be delivered using the Public-Private Partnership (PPP) model at a press conference, which will include the Chengdu International Football Center project.
Chengdu will invite tenders to bid for the joint delivery of 78 PPP projects, covering transportation, municipal engineering, environment protection, water conservation and public services. It is estimated that expenditure for delivering these projects will reach RMB320.8 billion (US$48.2b) in total.
As one of the 78 projects, Chengdu International Football Center will see an overall expenditure of RMB2.2 billion (US$330m) with the project’s financing coming from a design-build-finance-operate-transfer (DBFOT) arrangement with the private-public partnership to last for 15 years.
To be built on a campus in Chengdu, Chengdu International Football Center will become a world-class football stadium available for staging international football matches and tournaments such as the FIFA World Cup. This will be a 60,000-seater stadium, making it the stadium with the most seats in China. The project will start in the last few months of 2017 and will be completed within 2 to 3 years.
Proofread by Raymond Fitzpatrick