Shandong International Power to jointly construct Luneng Centre in Jinin, China.

Shandong International Power Development Company Ltd (1071) said it has entered into an agreement with Shandong Luneng Property Corp for the joint construction of Luneng Centre in Jinin, China. In a statement, the company said under the agreement, it will pay Shandong Luneng Property approximately 30.0 mln yuan to partially finance the construction of the centre. In return, upon completion of the project, Shandong Luneng Property will transfer the title and the property of one level of the property to Shandong International. It said the entire cost of the project is estimated at 400 mln yuan.

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