Opening ceremony for Russian real estate project
13/6/2005 16:22
Rachel Hou/Shanghai Daily news
On June 9, senior
Chinese and Russian officials attended the opening ceremony for the Baltic
Pearl, a residential complex in Russia's St Petersburg and also Shanghai's
biggest overseas real estate project.
Guests present at the ceremony
included Chinese Vice Premier Zeng Peiyan, Shanghai Vice Mayor Zhou Yupeng,
Russian Economic Development and Trade Minister German Gref and St Petersburg
Mayor Valentina Matviyenko.
During his speech at the ceremony, Chinese Vice
Premier Zeng Peiyan expressed his hope that the project would serve as a model
of Sino-Russian cooperation.
His remark was echoed by St Petersburg Mayor
Valentina Matviyenko, who said the project would promote the economic
development of the city. "We are here today to lay the foundation for both the
project and the city's future development
," said him.
According to Mr
Matviyenko, the residential project will feature homes for 35,000 people on 208
hectares of land and create many new jobs.
Several Shanghai companies will
put US$1.3 billion into the project, which is China's biggest single direct
investment in Russia. Among the investors are Shanghai Industrial Investment
(Holdings) Co Ltd, Jinjiang Group, Shanghai Brilliance (Group) Co Ltd and
Greenland Group.
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