Zhonghong, China Railway win bid for island project
Updated: 2012-05-24 15:52
By Liu Zheng (chinadaily.com.cn)
|
|||||||||||
Zhonghong Holding Co Ltd, announced on Wednesday night that the company has won the competitive bidding for the Ruyi Island tourism project, located in Haikou, Hainan province. Zhonghong will join China Railway Group Ltd to provide 3 billion yuan ($474 million) for the project, Securities Daily reported Thursday.
According to the report, Zhonghong has agreed to form a joint venture with China Railway Group to bid for the artificial fill island project on May 11. Zhonghong and China Railway hold 45 percent and 55 percent of the common shares respectively.
The sea area (the formation of the land area) of the project is 6.12 square kilometers with a turnover of 3 billion yuan. The trading service fee is 9.38 million yuan.
Tthe Ruyi Island tourism project is about 17 km away from Meilan international airport and about 12 km away from the downtown of Haikou, said the report.
With the initial investment of no less than 1.6 billion yuan for land building, the Ruyi Island project will be built as an environmentally friendly and high-end tourism resort for fashion, leisure and sports..
Industrial insiders pointed out that the co-operation between Zhonghong and China Railway will also be conducive to the development of their travel real estate business.
Related Stories
Hainan's ambitious plan for 2020 in question 2012-02-08 17:48
Hainan expands duty-free shopping 2012-04-24 09:46
Costly meal for Hainan 2012-02-02 09:53
Hainan mulls tax on vacant homes 2012-02-13 09:50
China's railway bidding opens to local markets 2012-05-21 13:34
Railways try to get investors on track 2012-05-21 09:25
Today's Top News
President Xi confident in recovery from quake
H7N9 update: 104 cases, 21 deaths
Telecom workers restore links
Coal mine blast kills 18 in Jilin
Intl scholarship puts China on the map
More bird flu patients discharged
Gold loses sheen, but still a safe bet
US 'turns blind eye to human rights'
Hot Topics
Lunar probe , China growth forecasts, Emission rules get tougher, China seen through 'colored lens', International board,
Editor's Picks
![]()
|
![]()
|
![]()
|
![]()
|
![]()
|
![]()
|