MANAMA, 18 July 2007 — Bahrain-based leading Islamic investment bank Gulf Finance House (GFH), in association with Gulf Energy — an international firm focusing on investment in the energy sector — yesterday announced plans to create Energy City China, a purpose-built business and residential district for Asia’s leading energy companies in a deal worth up to $5 billion.
Marking its first strategic investment in the world’s fastest growing economy, Gulf Finance House, in association with Gulf Energy, signed a Letter of Intent with the Management Committee of Yanjiao Economic and Technology Development Area, Sanhe City, establishing a partnership to move forward the ground breaking project.
The ceremony was held at the Great Hall of the People in Beijing.
The Letter of Intent was signed by Zhang Jinbo, mayor of Sanhe City, and Esam Janahi, chief executive officer and board member of Gulf Finance House, in the presence of Arab ambassadors and Asian businessmen from the finance and energy sector.