July 22 -- Hubei Provincial Expressway Group, majority shareholder of Hubei Chutian Expressway (600035), promises to inject expressway and tunnel assets into the listed company, reports National Business Daily, citing a company filing.

The injected assets are worth 27.6 billion yuan and will be injected as early as 2015. They include the 345-kilometer Yueyang-Yichang Expressway, which is expected to be completed in 2014.

Currently, most of Chutian Expressway’s revenues are derived from the Yichang-Wuhan Expressway, which spans 279 kilometers.

Hubei Provincial Expressway Group intends to transfer a 40.37-percent stake in Chutian Expressway to Hubei Traffic Investment. The transfer is awaiting approval by the CSRC. If successful, Hubei Traffic Investment said it will also inject assets into the listed company to eliminate horizontal competition between Chutian Expressway and its other assets.