October 23: At a signing ceremony hosted in Hangzhou, Chinese Resources Land Limited (CR Land), China Railway No.8 Engineering Group Co., Ltd. and Zhejiang Southeast Space Frame Group Co., Ltd. have jointly won the bidding process for the Hangzhou Olympic Sports Center construction project.

This center will be built by the three companies in a Public-Private-Partnership (PPP) mode and the total investment in the project will reportedly be over RMB 5.6 billion. 

In terms of the center’s operations, it will be operated by CR Land in a Build-Operate-Transfer (BOT) mode over the next 25 years. 

Located in Hangzhou and covering an area of 580,000 square meters, this center will act as one of the major venues for the 2022 Hangzhou Asian Games. 

Reportedly, the project will include an 18,000-seater stadium, a 6,000-seater swimming arena, a training center and a cycling center. Other event-related facilities such as the media center, the anti-doping research center and physical fitness center will also be featured in the complex. 

China Resources Land Limited, a subsidiary of China Resources Group, engages in the real estate business and as well is one of the most influential comprehensive real estate developers in Mainland China.

Source: people.com.cn 

Proofread by Raymond Fitzpatrick