CPF to start China development in 2011
Charoen Pokphand Group, Thailand's largest agricultural and retail business conglomerate by revenue, said Wednesday that it will begin construction of a THB15 billion ($498.8 million) development in China next year.
The Zhengda International City Plaza Civic Center project, which is expected to be completed in six years, will comprise condominiums, office space, hotel space and a shopping mall in Luoyang city in western Henan province, the firm said in the statement.
Also in 2011, the firm plans to list its real estate subsidiary, Shanghai Kinghill, which operates the Super Brand Mall, on the Shanghai Stock Exchange.
For its business in India, the firm expects to invest around THB1.5 billion in three factories that produce fish feed.
Sales in India are expected to rise at least 20% in 2011 from THB15.2 billion projected in 2010, it said.
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