1.Background     Located in the middle of Round Bohai Bay and bordered on the Bohai Sea in the east, Tianjin's special geographical situation makes Tianjin become the important transport hub and take on important transport task of transit traffic highway. Being a modern port city and economical center in the northern China, it is necessary to construct convenient and efficient modernized highways in Tianjin and to the surrounding provinces and cities.     According to the strategic goal of economical and social development during the Tenth Five-Year Plan period, Tianjin municipal worked out plans to construct highways under the theme of "concentrating strength to carry out the large scale construction of expressways". In five years, efforts are made to complete the construction of 37 km Jin-Jin (Tianjin-Shanxi) Expressway (east section of Tianjin), 66 km Tang-Jin (Tangshan-Tianjin) Expressway (south section of Tianjin) and 104 km Jin-Ji (Tianjin-Jixian) Expressway. The 57 km Tianjin section of Jing-hu (Beijing-Shanghai) Expressway and 38 km Jin-Jin (Tianjin-Shanxi) Expressway (west section of Tianjin will be gone into construction. Tianjin expressways will complete its transformation from framework-style to network-style in ten years in order to meet the requirement of economic and social growth.     2.The necessity of the project and marketing forecast     Jin-Jin (Tianjin-Shanxi) Expressway is one of the main trunk lines in the national plan and an important passageway coming into Tianjin Port from the northwest regions. It links Round Bohai economic area in the east and links Datong of Shanxi province and Wumei of Inner Mongolia. Jin-Jin Expressway (east section of Tianjin) is a important component of the economic trunk line and a passageway from Tianjin urban district to Tanggu, Tianjin Port and Boarding-Port Industrial Area. The construction of the expressway will play a significant role in the economic development in Tianjin urban district, New Coastal Area, Boarding-Port Industrial Area, Port and other districts along the expressway. It is estimated that the daily transport flow volume will reach 11228 vehicles by the year 2003, 34246 vehicles by the year 2013 and 48100 vehicles by the year 2023.     3.Construction scale and standard     The project starts from Boarding-Port Industrial Area in the east and links with the Haifang highway. It passes Logistics Center of Tianjin Port, Jinnan Development Area, Xianshuigu of Jinnan District. It ends at Tuanbowa of Jinnan District and links with Jingang Highway. The total length is 37 km with the roadbed width of 28 meters and road width of 22.5 meters. On the four-lane expressway, the speed of motor vehicles can reach 120 miles /hour. There are 7 overpasses (including 3 overpasses for future construction), 7 separating overpasses, 15 small- and middle-size bridges and 7 tollhouses.     4.Financial and Economical Analysis     The internal rate of return is 21.64% and the period of recovery is 12 years. The net present value will reach 44,095,400 yuan by the year 2003 and accumulated net present value will be 1,511,970,000 yuan by the year 2023. The project is feasible in economic operation and will be profitable.      5.Progress of the project     The project may go into operation in 2001, complete and open to the traffic by the end of 2002.     6.Pattern of investment     The project will be cooperatively constructed, including 80% of total coming from investment invitation and 20% coming from the property owner. The funds invested by the property owner will raise fund by makemake use of the subsidiaries from Transportation Ministry, bank loan and allocation of the road maintenance charge.     The cooperation period lasts 30 years including construction period.