INTERNATIONAL
From Times Staff and Wire Reports
Bechtel Inc., Chinese Firm in Joint Venture: The San Francisco-based construction and engineering group has set up a joint venture with China International Trust & Investment Corp. to manage construction of a $3- to $6-billion port planned for eastern China. The equally owned venture, Xinde Joint Development Co., will serve as a marketing and operations organization for development of Daxie Island, south of Shanghai, the companies said in a statement. The plan is to transform the mainly rural island into a port city supporting up to 100,000 residents.
