The Portuguese arm of China State Construction Engineering Corp. Ltd (CSCEC) has bought 50 percent of a project to develop property in Oeiras, near Lisbon, Lusa reports.
The Portuguese news agency quotes the seller of the stake, Teixeira Duarte SA, as telling the Lisbon Stock Exchange in writing that Chinese state-owned CSCEC paid €31.1 million (US$34.7 million).
Teixeira Duarte and the Portuguese subsidiary of CSCEC will jointly build offices, shops and housing in the middle of parkland in Oeiras which is owned by a Teixeira Duarte subsidiary, Lusa says.
