Wednesday, May 09, 2012
SHANGHAI (Dow Jones)--China State Construction Engineering Corp. (601668.SH) 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.(1398.HK).
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.
-By Esther Fung, Dow Jones Newswires; 86-21-6120-1200; esther.fung@dowjones.com
(END) Dow Jones Newswires
09-05-12 0800GMT
