SHANGHAI (XFN-ASIA) - A fund run by Australian investment bank Macquarie Group said it has bought 81 pct of a highway in Guangzhou in southern China for about four bln yuan.

Macquarie International Infrastructure Fund Ltd said it would be able to share revenues until 2026 from the tolling rights of Hua Nan Expressway, a 31-kilometer urban toll road in Guangdong province.

The expressway, located in Guangzhou city, has posted annual growth in tolled traffic volume of 13 pct since 2004, the fund said in a statement with the Singapore Stock Exchange.

The acquisition gives the fund 'substantial ownership and control of a high-quality toll road' and allows it 'to participate in the growing transportation infrastructure sector in China,' said Gavin Kerr, managing director of the fund.

The fund, which manages 58 bln aud, said it bought a 90 pct stake in South China Highway Development (HK) Ltd, which owns a 90 pct interest in the Hua Nan Expressway.

(1 usd = 7.44 yuan)