Sinar, Samsung sign deal

Sinar, Samsung sign deal

SHANGHAI (Reuter): The Sinar Mas Group on Friday signed a
contract worth US$18.5 million with Samsung Corp, a unit of
Samsung Group, for substructuring construction work on the $460-
million Bund Finance Center in Shanghai, a company spokesman
said.

The center, one of a number of major investments planned in
China by the Indonesian investment group, is due for completion
in 1999.

It comprises a 50-storey office tower, two 27-storey blocks of
apartments and a retail podium.

The contract awarded to Samsung covers the construction of the
building's three-storey basement, the spokesman said.