The original tunnel refers to the two-lane two-way traffic tunnel on Yan 'an East Road in Shanghai, which was completed at the end of 1988.
The new tunnel refers to the double-track project of Shanghai Yan 'an East Road Tunnel invested and constructed by the tunnel development company in 1994.
Yan 'an East Road Tunnel refers to both the original tunnel and the new tunnel.
The tunnel scope refers to the underground passage of Yan 'an East Road Tunnel and the scope of the above-ground land allocated to the tunnel development company (see attached figure). The scope of land use on the ground shall be subject to the land use certificate; The tunnel development company has no right to use the above-ground land of the tunnel underpass.
Force majeure events refer to natural disasters such as floods, earthquakes, wars and all other events or social phenomena beyond human prediction or control.
The return on investment refers to the discount rate that the present value of net cash flow in each year during the franchise period is equal to zero. The calculation formula is as follows:
30
Equivalent to -ED
∑ C ( 1+r) =0
t
t=0
T is the number of years of cooperation.
C is the T-year net cash flow shown in the financial model adjusted and determined by investors after the completion of the new tunnel.
t
R is the return on investment (IRR).
Franchise refers to the right to build, operate and manage Yan 'an East Road Tunnel and the right to operate advertising business in the tunnel.
Special vehicles refer to ambulances, fire engines, engineering emergency repair vehicles, police cars and military vehicles that are performing tasks. Article 3 The change of tunnel scope shall be decided by the Shanghai Municipal People's Government and the tunnel development company through consultation. Fourth tunnel development companies must abide by the provisions of these measures during the franchise period; The contract signed by both parties of the tunnel development company shall not conflict with these measures. Chapter II Franchise Article 5 The franchise period of the tunnel development company for Yan 'an East Road Tunnel is 30 years, counting from the date when the foundation stone of the new tunnel project is laid on 1994 1 month 18. Article 6 The tunnel development company obtains the land use right in the tunnel area free of charge during the franchise period, and is exempt from paying the land use fee. Article 7 During the franchise period, the tunnel development company engages in other business activities by using the business premises permitted by the building planning, and is exempt from paying land use fees. However, if a building is built or expanded to engage in other business activities on the basis of the original management house, it shall be handled in accordance with the relevant provisions of the Provisions of Shanghai Municipality on the Assignment of Land Use Rights. Eighth due to the need of new tunnel construction, the tunnel development company may demolish the houses outside the tunnel scope, but it shall go through the examination and approval procedures in accordance with the provisions. When the tunnel development company uses the land within the scope of demolition during the construction period, it is exempt from the relevant fees for temporary land use. During or after the construction, the tunnel development company can obtain the land use right at a reasonable market price according to the relevant provisions on the transfer of land use right. Article 9 During the franchise period, the tunnel development company may, under the same conditions, give priority to the construction and management rights of other urban construction projects on both sides of Huangpu River. Article 10 The Shanghai Municipal People's Government agrees to the profit distribution agreement between the partners of the tunnel development company, and the Hong Kong investors will get a return of 15% from the tunnel development company during the franchise period.
When the profits made by Hong Kong investors can't reach the investment return rate stipulated in the preceding paragraph, Shanghai investors will first compensate by paying interest to the tunnel development company; If it is still overdue, Shanghai Urban Construction Investment and Development Company will be responsible for compensation in the form of interest-bearing account.
When the profits of Hong Kong investors are higher than the return on investment stipulated in the first paragraph, the excess shall be paid to Shanghai Urban Construction Investment and Development Corporation after the compensation fees listed in the preceding paragraph are repaid in advance.
The operating income obtained according to the provisions of Article 7 and Article 8 of these Measures shall not be included in the calculation range of investment return. Article 11 During the franchise period, when the profits due to the tunnel development company cannot reach the expected return on investment, the Shanghai Municipal People's Government may grant the tunnel development company the right to operate other projects or take other effective measures to make the profits of the tunnel development company reach the expected return on investment as soon as possible. Article 12 If the tunnel development company needs to adjust the original tunnel use fee before the new tunnel is completed and opened to traffic, it shall report to the relevant departments of the Shanghai Municipal People's Government for approval.
After the new tunnel is completed and opened to traffic, the tunnel development company can adjust the tunnel use fee charging standard according to the determined financial model and report it to the relevant departments of the Shanghai Municipal People's Government for the record. The relevant departments of the Shanghai Municipal People's Government will adjust the charges of other river-crossing traffic facilities in Huangpu River to meet the charges of Yan 'an East Road Tunnel. Article 13 The Shanghai Municipal People's Government agrees to arrange the construction of traffic facilities related to Yan 'an East Road Tunnel as soon as possible to meet the growing traffic demand of Yan 'an East Road Tunnel.