18 February 2019

China to invest in US$1 bln Manchester project, FT says

Industrial and Commercial Bank of China Ltd. (01398.HK, 601398.CN) plans to invest in a new £650 million (US$1.05 billion) business district at Manchester airport, Financial Times reported on Thursday. A deal will be signed during the visit of the Chancellor of the Exchequer George Osborne to Beijing this month, the report said. The Chinese lender is backing a consortium of Argent Group Plc, the developer, and Carillion Plc, the construction company, to transform 150 acres of scrubland and parking into 5 million square feet of offices, shops and parkland, it added.

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