(China Daily)
Updated: 2007-07-11 08:57

Shenzhen Zhongjin Lingnan Nonfemet Co, China's fifth-biggest zinc producer by output, said it will invest in a real estate project in the northern port city of Tianjin to benefit from rising property prices and boost profit.

Zhongjin and a developer will spend 300 million yuan on a residential development in the downtown Heping District, the Shenzhen-based company said in a statement to Shenzhen stock exchange. Zhongjin holds a 33 percent stake in the project scheduled for completion in February 2010.