Wilmar International joint venture company intends to bid for Liaoning Real estate Project

The bid amount is about 272 million yuan, the total investment will reach 7.508 billion yuan abundant benefit international announcement, its with Kerry Construction China Limited Company (hereinafter "Kerry Construction"), Shangri-La China Limited (hereinafter "Shangri-La")　　) The joint venture company will bid 272 million yuan for the land in Yingkou, Liaoning Province, if successful, will develop six residential and commercial real estate projects, the total investment will reach 7.508 billion yuan.　　Earlier December 21, Wilmar International and other joint venture companies announced the investment of 2.569 billion yuan to develop the same three real estate projects in Yingkou, three projects located in Liaoning Province Yingkou, Wilmar International joint venture to bid for the six projects in Liaoning province Yingkou Laobian District.　　Wilmar International joint venture company will be bidding for land plots for residential and commercial real estate, the total area of about 565,530 square meters, which used for residential development of land use for 70, used for commercial real estate development land use for 40 years. The auction of the corresponding plots will be held on January 5, 2011.　　Wilmar International said that if the bid is successful, will be with Kerry Construction and Shangri-La to set up more joint ventures to develop and operate these plots, in these plans for the future of the new joint ventures, Wilmar International, Kerry Construction, Shangri-La, respectively, the proportion of shares of 35%, 40% and 25%. Established by the international joint Venture company in accordance with the request of January 5, 2001 to raise 272 million yuan, the total project investment will reach a maximum of 7,508,040,000 yuan, Wilmar International said that the need for funding on the one hand from the internal financing, on the other hand will be through loans to the bank to solve.