Temasek,Bank of China unit plans $1-2 bln fund

Singapore’s Temasek is in talks with a unit of Bank of China to launch a US$1 billion to US$2 billion investment fund to focus on fast-growing infrastructure projects across the vast nation, sources said on Thursday.

Talks between Singapore’s sovereign wealth fund andvBOC International, the Hong Kong-based investment banking arm of Bank of China, were in early stages but both had agreed on the general idea of the fund plan, initiated by the Chinese bank, said the sources with direct knowledge of the plan.

Temasek and Bank of China aimed to set up a joint ventue to manage the fund, which would seek investment opportunities emerging from China’s 4 trillion yuan ($585.5 billion) economic stimulus package launched late last year, the sources said.

The sources declined to be identified as negotiations between the two parties are confidential.

With Reuters.

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