AECOM has signed an agreement with Sunvision Holdings, a subsidiary of Shanghai-based Fosun, for the establishment of a joint venture company focused on developing transit-oriented development (TOD) project opportunities.
In September 2017, Fosun signed China’s first public-private partnership agreement for a high-speed rail project, the 167-mile Hangzhou-Shaoxing-Taizhou line in China’s densely populated eastern region. The line is estimated to cost 44.9 billion RMB ($7 billion) and is scheduled for completion in 2021. By 2030, China’s high-speed rail infrastructure is expected to double to 28,000 miles, making it the most extensive such network in the world.
“China’s high-speed, long-distance and metro rail investment significantly raises the demand for rail-oriented TOD projects,” said Sean Chiao, president, Asia Pacific, AECOM. “Our joint venture with Sunvision brings together complementary strengths to deliver infrastructure that will both enhance convenience and work well with the natural and built environment. We also look forward to deploying AECOM’s global network and integrated design, build, finance and operate offerings for further international project cooperation with Fosun.”
AECOM has delivered numerous pioneering TOD projects throughout Asia, including a large number of the new towns and developments in Hong Kong that have provided high-speed mass transit and roadway infrastructure that connects and complements other critical components such as industrial, commercial, residential and public services. Its participation in mega infrastructures around the world has included topside development in the reconstruction of the World Trade Center in New York; the Crossrail (Elizabeth Line) in London; and the West Kowloon Terminus of Express Rail Link in Hong Kong. The company was also selected by the U.S. space exploration technology company (SpaceX) to develop Hyperloop high-speed rail test tracks.
