China International Trust and Investment Corp. (CITIC), a consortium comprising CITIC Group, the Beijing Urban Construction Group, the Golden State Holding Group of the United States, and the CITIC Group affiliate Guoan Elstrong, has won an ownership tender for the Beijing 2008 National Stadium.
The Peoples Daily reports that the consortium will raise funding for 42 per cent of the cost of the stadium which is $423 million (U.S.).
The remaining 58 per cent, funded by the Beijing municipal government, will be represented by the Beijing State-owned Assets Management Co.
The agreement is the first ownership tender for a venue for the 2008 Summer Olympic Games and was signed on Saturday.
Bidding is underway for another seven Olympic venues and facilities, including the Olympic Village, the National Swimming Centre and the Wukeson Cultural and Sports Centre.
Liu Zhi, the commission’s deputy director, said the tenders will be allocated by October.
