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June 9, 2013

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SOEs flocking to former Expo site

STATE-OWNED energy company China Huaneng Group Corp yesterday broke ground for new offices on the former World Expo site in the Pudong New Area.

A total of 13 state-owned enterprises, including Baosteel and State Grid have signed contracts to build headquarters in the zone, that during the Expo was the site of the Australia and Thailand pavilions.

About 28 buildings will be built there using environmentally friendly materials.

The Beijing-based Sinochem Group and China Changjiang National Shipping Group are building two buildings - 70 and 50 meters high respectively - in the zone, and will move their operation centers there by 2015.

"The 18.72-hectare Zone B aims to become the world's top-notch corporate headquarters zone," said Ding Hao, president of the Expo Development Group and chief planner for post-Expo development of the site.

Meanwhile, China's jumbo jet producer yesterday completed work on the underground floors of its new headquarters at the site.

The Commercial Aircraft Corp of China was the first enterprise to start work on building its new headquarters at the zone.

They are due to be complete next year.


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