Macau New Era pays MOP97 mln for Reolian assets

Macau New Era Public Bus Co Ltd is paying MOP97 million (US$12.15 million) for the assets of bankrupt bus operator Reolian Public Transport Co Ltd, Macau New Era general manager Daniel Fang Li Qun has said. Macau New Era will use Reolian buses and staff when it begins running services on Reolian’s routes next month. Mr Fang said that, altogether, his company intends to invest MOP190 million in its new business. The government will pay the company a monthly fee of MOP17 million to run its bus services.