FUJIAN Expressway Development Co (stock code: 600033), a Chinese toll road operator, said it is planning to spend 14.1 billion yuan (US$1.85 billion) to expand two highways because of surging traffic in southeastern China's Fujian Province.

The company will spend 5.38 billion yuan to expand a highway connecting the cities of Quanzhou and Xiamen, it said in a statement to Shanghai's stock exchange yesterday. A subsidiary of the company will spend 8.75 billion yuan to expand the highway connecting Fuzhou and Quanzhou, Bloomberg News reported. Construction is expected to start at the end of this year and be completed in 2010, according to the statement. The investment is subject to shareholders' approval.