CHAIRMAN of Hong Kong-based Kerry group, Robert Kuok Hock Nien, arrived in Tianjin yesterday and signed contracts or intentions on several huge development projects in the city, according to Xinhua (the New China News Agency). The deals include a contract for the construction of a Shangri-La hotel on an 18,000-square-metre site to the west of Tianjin railway station. The project will cost US$200 million and will be the first five-star hotel in the city, which lies 137 kilometres to the east of Beijing. According to an intention signed yesterday, the Kerry group will invest 700 million yuan (about HK$620 million) to develop shopping centres and office buildings in the central area. It is understood the group will sign an intention with the Tianjin Development Zone today for the building of a Kerry Industrial Park in the zone. Representatives of Japan's Mitsubishi company and the American UCC company were accompanying Mr Kuok on his visit. Official sources said the two would sign an intention to build a coke export base at the Tianjin port. Mr Kuok made his visit at the invitation of Zhang Licheng, the mayor of Tianjin, and will leave the city tomorrow. During his visit, Mr Kuok was also appointed an economic adviser to the city.
