Meanwhile, The Times reportedly said that Bank of China plans to buy 50 percent of the joint venture - taking 25 percent holdings from both Standard Life and Teda
Wei Jianqing, CEO of TEDA
Group, said the company will immediately start work on the infrastructure of the first stage, estimated at 2km square.
Heng An Standard Life is a 50-50 joint venture between Standard Life and Tianjin-based state-run investment agency TEDA
International Holding (Group) Company, with registered capital of CNY1.3bn.
Daily News Egypt interviewed Wei Jianqing, the CEO of Chinese TEDA
Group, to discuss the reasons behind the delay, the last negotiations between TEDA
and Egyptian officials, the expected time to start the construction of infrastructure, how many companies will be inside the zone, and the sectors that will work in it.
UK-based insurer Old Mutual (LSE: OML) has bought a 49 percent stake in Chinese joint venture TEDA
Fund Management from Belgian-Dutch financial group Fortis (FOR.BR) (AMS: FORB) (DUS: FORB) (OTC: FORSY) for EUR165m in cash.
In his second year with Tianjin Teda
, the 25-year-old ended the campaign as the club's top scorer with 17 topflight goals, which helped the Tigers place 14th on the league table, just a spot above the relegation zone.
Shanghai: Fitch Ratings said Binhai Investment Company Limited's (BHI, BBB-/Stable) rating headroom for its standalone credit profile of 'BB' is much reduced following weaker-than-expected gas sales margin and a CNY200 million loan to its parent Tianjin TEDA
Investment Holding Co., Ltd.
Emad added that the main sectors that the Tianjin Economic-Technological Development Area (TEDA
) is focusing on are textile, new building materials, plastic products, logistics, chemicals, and automotive.
China under the guidance of Italian World Cup winner Marcello Lippi, have called up Tianjin Teda
midfielder Mirahmetjan Muzepper, who is primed to become the first Uighur to represent the national team, amid growing international concern about the fate of the ethnic minority group.