CHINA. Guangdong Airport Management Corp (GAMC) has signed a letter of intent with General Electric’s Commercial Aviation Services (GECAS) arm to build a new airport in the southeast of Guangdong Province, the Chinese company said. The partners did not specify the terms of the deal.
“Bringing in GE as a strategic investor will not only introduce funds, but more importantly, will introduce advanced management experience and quality supervision,” GAMC President Liu Zijing said in a statement.
The new airport, in Chaoshan, will be constructed at a cost of CNY3.7 billion (US$537 million) and work will begin late this year, said GAMC.
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