Sunday, September 28, 2014
Ziwo plans 160m yuan purchase of 25% stake in China construction firm
ZIWO Holdings said on Monday that it is planning to buy a 25 per cent stake in Xisheng Investment Co, for 160 million yuan to play a role in China's redevelopment of industrial zones in Quanzhou city in Fujian Province. Xisheng, jointly with CMTCC Shanghai Shisanye Construction Co, a branch of Metallurgical Corporation of China Ltd , had successfully bid in 2011 to develop the infrastructure construction project of Guanqiao Park in Quanzhou Economic and Technological Development Zone.
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