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China Investment Corp targets UK infrastructure projects

  • Staff Reporter
  • 2011-11-30
  • 08:50 (GMT+8)
Lou Jiwei, chairman of China's sovereign wealth fund, says CIC is keen to invest in British infrastructure projects. (File Photo/Xinhua)

Lou Jiwei, chairman of China's sovereign wealth fund, says CIC is keen to invest in British infrastructure projects. (File Photo/Xinhua)

China Investment Corp (CIC) chairman Lou Jiwei said on Nov. 28 that the sovereign wealth fund is planning to engage in foreign infrastructure projects and will start with its investment in the United Kingdom.

"We hope to own and operate these infrastructures in the west," Lou said. "CIC is looking forward to partnership with other fund management companies to participate in Britain's infrastructure projects."

Lou made his remarks in an article in the UK's Financial Times, saying many Chinese companies would like to increase their involvement in construction projects in Europe and the United States, where more money and investment is needed.

"In the past, Chinese companies would participate in these kinds of projects as constructors but today we are more interested in joining them as investors and managers," Lou said.

Unnamed British officials said Lou was aiming at a high speed railway project connecting London and northern England, while the British government is now looking for investment to upgrade the country's highways, railways and harbors.

Chancellor of the Exchequer George Osborne meanwhile has offered a total of US$46 billion in infrastructure projects to stimulate the British economy.

References

Lou Jiwei 樓繼偉

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