Date
16 October 2018

Franshion puts US$2.85 bln into Changsha project, filing says

Sinochem unit Franshion Properties (China) Ltd. (00817.HK) will spend about 17.44 billion yuan (US$2.85 billion) to develop an “international service and technology innovation city” project in Changsha, capital of Hunan province, the company said in a stock exchange filing late Tuesday. It will be the second investor of phase two of the project, which covers more than 1,100 hectares. Franshion has put in 70 percent of the project’s total estimated investment and will get a full refund on development costs and 70 percent of the gains, the filing said.

– Contact HKEJ at [email protected]

MY/AC/SK

 

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