South Korea's state-run Korea Development Bank said Thursday it plans to invest $130 million into a Chinese project for the expansion of the Haikou Meilan International Airport.
KDB will set up a private equity fund to make the investment, the bank said. China's central economic planner approved the project in 2015 to expand the airport in the southern island province of Hainan.
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(Yonhap) |
The project is a part of China's massive "One Belt, One Road" infrastructure drive that aims to increase its economic clout in Asia.
KDB said it will cooperate with China-led regional lender, the Asian Infrastructure Investment Bank, to help local firms make inroads into infrastructure projects in Asia. (Yonhap)
