Business

China Evergrande says stadium construction proceeding as planned

Above Article Content Ad

An aerial view exhibits the development web site of Guangzhou Evergrande Soccer Stadium, a brand new stadium for Guangzhou FC, developed by China Evergrande Group, in Guangzhou, Guangdong province, China September 26, 2021. REUTERS/Thomas Suen

GUANGZHOU, China, Sept 27 (Reuters) – Work on a China Evergrande Group challenge within the southern metropolis of Guangzhou to construct one of many world’s largest soccer stadiums is continuing “as regular”, the corporate advised Reuters on Monday, regardless of the actual property large’s money woes.

Evergrande owes $305 billion in debt and has run in need of money, rattling world markets. It missed a fee deadline on a greenback bond final week.

Development on the Guangzhou FC Soccer stadium, which was set to value round 12 billion yuan ($1.86 billion), started in April final yr and had been resulting from end by 2022.

“Development work on the soccer stadium remains to be continuing as regular and in an orderly method,” China Evergrande stated in response to a question from Reuters.

The stadium would have a capability of over 100,000, which might make it the world’s largest purpose-built soccer venue by capability.

“The world’s eyes are on it,” the proprietor of a small retailer close by surnamed Zhao stated on Sunday.

“How may the most important soccer stadium on this planet not be constructed? It will not change into a waste development web site. The federal government would not let this occur.”

($1 = 6.4662 Chinese language yuan renminbi)

Reporting by Martin Pollard, Thomas Suen and David Kirton; writing by Ryan Woo; Modifying by Susan Fenton

:

Source link

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button