| 7 January 2001 |
KMB, via Hong Kong Macau Investment (Tianjin) Limited, has teamed up with Tianjin Public Transportation Company Limited (Group) ( 
) for a co-operative joint venture - Tianjin Hong Kong Macau Company Limited. The company began providing public bus services in Tianjin on 1 January 2001.
" After more than 60 years of operation in Hong Kong, KMB is a competitive, efficient and highly experienced public bus service operator. We have also fostered and maintained good relationships with various passenger transport operators in mainland China. KMB regards this co-operative joint venture as an opportunity to expand its operations and contribute to the development of the public transport network in mainland China," said KMB Managing Director and Chairman of Hong Kong Macau Investment (Tianjin) Limited, Mr John Chan, in the Opening Ceremony of the Tianjin Hong Kong Macau Company Limited.
Tianjin Hong Kong Macau Company Limited will rationalise some of the existing bus routes operated by Tianjin Public Transportation Company Limited (Group) ( ) , developing an estimated 35 routes in phases and purchasing about 500 buses over a period of three years. The total investment of the venture amounts to RMB 150 million. In the first phase, Tianjin Hong Kong Macau Company Limited will rationalise seven bus routes which utilise 120 buses. The combined journey distances of these seven bus routes, which compose the major bus network of Tianjin, is 83 kilometres, and the total daily mileage is over 17,000 kilometres. The expected daily patronage of these seven bus routes is some 40,000 passengers.
" KMB is very pleased to have this opportunity to invest in bus operations in Tianjin together with Tianjin Public Transportation Company Limited (Group) ( ). Being a municipality with a population of more than 9.6 million, and showing rapid economic development, Tianjin presents great potential for the future development of its public bus services. Also, Tianjin Public Transportation Company Limited (Group) ( ) is a very successful public bus operator that will complement KMB's extensive experience and as a result bus services of an exceptional standard will be provided in Tianjin," Mr Chan added.
Prior to this joint venture in Tianjin, KMB has been operating a cross-boundary shuttle service between Lok Ma Chau and Huang Gang, and providing passenger transport services in Dalian since 1997. KMB believes that more business opportunities will arise in China as a result of its entry to the World Trade Organisation and as the public bus services industry matures.
In Hong Kong, KMB operates more than 400 routes with a fleet of some 4,200 buses, and is the SAR's largest public transport operator with a daily patronage of over three million passengers.
For further information, please contact:
Ms Susanne Ho
Head of Corporate Communications Department, KMB
Tel: 2786-8969/ 7909-8050
Fax: 2371-2910
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