Gulf Investor Unveils China Energy Plan

A Bahrain-based developer announced a US$5 billion (euro3.6 billion) plan Tuesday to build a business center for the oil industry in suburban Beijing, highlighting China’s growing ties to the Middle East and its booming energy market.

The project, which requires Chinese government approval, could become the biggest Middle Eastern investment in China, said Esam Yousif Janahi, chief executive officer of Gulf Finance House, its main backer.