WHARF (Holdings) has signed a letter of intent for a 600 million yuan (about HK$804 million) joint-venture property development in Chongqing, Sichuan province. This is the fourth project to which Wharf has committed in Chongqing this week. Gonzaga Li, chairman-designate of Wharf, said Sichuan province, particularly the cities of Chongqing and Chengdu, would be the focus of his group's investment in western China. He said Wharf would have an interest of at least 50 per cent in the Chongqing property venture to build a commercial-residential building. The joint venture involves the redevelopment of a 9,750 square metre site, with a gross floor area of about 150,000 sq m, in the Liberation Monument Qunlin Market area in Chongqing. The project is expected to take three to four years to complete. This week, Wharf signed letters of intent with the Chongqing municipal authorities for co-operation in two port projects and the setting up of a shipping fleet. Under the tentative agreements, Wharf is to upgrade six berths at Jiulongpo. The second port project would develop Chuntan's five berths. The other project would establish a Chongqing-Shanghai freight transport shipping fleet. Wharf is keen to participate in infrastructure and property projects along the Yangtze River, which links major industrial cities such as Chongqing, Wuhan and Shanghai. Last year, the group signed letters of intent for several projects in Wuhan, including a container terminal, distribution centre, light rail system, warehousing and property ventures.