China to invest $800m in B&R project in Abu Dhabi

NANJING - Twelve Chinese companies will invest more than $800 million in a Belt and Road project in Abu Dhabi, creating more than 2,000 jobs.

Agreements have been signed between the companies, 10 of which are from East China's Jiangsu province, with the Jiangsu Provincial Overseas Cooperation and Investment Company (JOCIC), which is in charge of developing 2.2 square kilometers of land at the Khalifa Industrial Zone Abu Dhabi (Kizad).

China will build the industrial cooperation demonstration park within Kizad to boost practical cooperation within the framework of the Belt and Road Initiative.

The government of Jiangsu said it will build the industrial park into a landmark program of China's Belt and Road Initiative, attracting companies from both inside and outside the province.

Construction of the industrial park started in January.