China Nonferrous Metals Holdings (Hong Kong) says its investment in Traffic Stream Infrastructure will not affect plans by its sister company Silver Grant International Industries to list its infrastructure business in Hong Kong.
Vice-chairman and managing director of China Nonferrous Metals Fang Dacheng said: 'Our participation in Traffic Stream is part of the long term development strategy but our core business will remain unchanged.
'Silver Grant, with its core business of property and retailing, has its own development strategy too.
'We are both involved in mainland infrastructure development, [but] there is no conflict between us.' Silver Grant, controlled by Beijing's China National Nonferrous Metals Industry Corp, is planning to spin off its 40 per cent owned associate, China Infra-Structure in Hong Kong.
Other shareholders in China Infra-Structure are the Ministry of Communications' two Hong Kong-based investment arms, China Road & Bridge, and Zhenhua Engineering Co.
