the Belt and Road > Industries

Gansu, CSCEC jointly establish RMB100 bln transportation fund

2015-11-02 19:43

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Northwest China's Gansu province and China State Construction Engineering Corp. Ltd (CSCEC) on Monday jointly set up the Gansu Silk Road Transportation Development Fund, which will have a total capital of 100 billion yuan.

The fund, established via limited partnership, will raise capital in several batches. Gansu and CSCEC will contribute 7 and 23 percent respectively to each batch while social capital will contribute 70 percent. The first batch of the fund will be spent in three transportation projects in Gansu, which involve a total investment of over 56 billion yuan.

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