Around the world
Contract for UK wind project
China Three Gorges Corp (CTG) won a bid for the UK-based Moray offshore wind project on Monday, CTG said in a post on its WeChat account Wednesday. The bid was jointly submitted by CTG and the Energias de Portugal SA, Portugal’s largest electricity utility.
It means that CTG has entered the largest offshore wind power market in the world, said the post.
The Moray offshore wind project, which is located in the North Sea off the coast of Scotland, is scheduled to complete construction by 2022.
Engine production in Belarus
Shandong Province-based motor vehicle manufacturer Weichai Group and Belarusian Minsk Automobile Plant set up a joint venture in Minsk on Wednesday, and the two companies will offer funds to produce diesel engines in the Chinese-Belarusian industrial park Great Stone, the Xinhua News Agency reported.
The joint venture aims to produce 20,000 diesel engines each year, which will be sold in markets including Belarus, Russia and Ukraine, according to the report.
Didi to invest in Uber: reports
China’s ride-hailing services provider Didi Chuxing is reportedly in talks with a group of global investors, including Japan’s SoftBank Group, about forming a consortium to invest in US ride-hailing giant Uber, according to media reports.
US technology news site Techcrunch citied sources as saying that the group is close to finalizing the offer, which could be launched as early as this month.
The consortium’s offer includes direct investment in the company as well as purchases of shares from employees and other investors, the report said, adding the offer could range from $2 billion to $10 billion.
Multiple bids for AXA’s HK unit
About two dozen companies, mostly from China, are competing in a bid to purchase French insurer AXA SA’s wealth management unit in Hong Kong, Reuters reported on Wednesday.
The Chinese bidders include China Taiping and Country Garden Holdings Co, according to Reuters, which cited unidentified sources. The report said most companies are after the unit’s insurance license to the lucrative Hong Kong insurance market.
Companies from the Chinese mainland have shown great interest in Hong Kong’s insurance companies, as the sector is thriving on demand from the mainland for premiums.