(MENAFN) China's largest private investment fund, Minsheng Investment Co Ltd (CMI) said it would invest USD1.5 billion in a Chinese-led project to develop a new financial district in London, Oman Observer reported.
The project in one of the biggest Chinese investments in the United Kingdom in recent years and one of the most significant for Minsheng, which launched in August with a capital of USD8.13 billion.
The firm said it will become the majority investor in the project, which was unveiled in 2013 by Chinese developer Advanced Business Park (ABP) and advertised as London's third financial center.
"After the project is completed, it will be the international platform and foundation for Chinese companies and capital to enter the European market," Minsheng president said.
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