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Sovereign Wealth Funds Briefing - Categorized | Investment, Market

China State Construction signs $2 bln cooperation pact with Aabar Investments

Posted on 09 May 2012

China State Construction Engineering Corp. said Wednesday it has signed a memorandum of cooperation on the first phase of a real estate project worth $2 billion with Abu Dhabi sovereign-wealth fund Aabar Investments PJS and Industrial and Commercial Bank of China Ltd.
The Shanghai-listed construction company will undertake the construction of hotels, office buildings and high-end residential buildings in Abu Dhabi, while ICBC will provide financial support to Aabar, which would in turn get its revenue from oil trading for repayment, it said in a statement………………………………………..Full Article: Source


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