ASF Group Limited announced yesterday that their subsidiary ASF Consortium Pty has signed a co-operative development agreement with CCCC Guangzhou Dredging Co.
Under the agreement, the two companies will work together on a number of international projects, including the Gold Coast Integrated Resort (GCIR) project.
Subject to further execution of this agreement, ASFC and Guangzhou Dredging will also consider setting up a joint venture project company which may become a sub-developer for marine and infrastructure works on selected projects where the parties seek to co-operate.
GCIR project will comprise an international cruise ship terminal, world-class tourism precinct, iconic architecture, internationally recognized luxury hotels, a casino, marinas, extensive waterfront parklands, retail, residential and unique entertainment experiences.
CCCC Guangzhou Dredging is a subsidiary of China Communications Construction Co., Ltd (CCCC), the largest port construction and design company in China, and is principally engaged in the design and construction of transportation infrastructure, dredging and heavy machinery manufacturing business.