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Econcern to make €863 million investment in China

Econcern has signed term sheets for three projects with a China National Offshore Oil Corporation subsidiary - CNOOC New Energy - and for one project with Chinese hydropower company SINOHYDRO Renewable Energy. The construction of the projects is expected to start in 2009.Econcern chairman of the board, Ad van Wijk, says the sustainable energy sector remains strong despite the current economic climate. "Econcern has ambitious growth targets; these deals show that investment in sustainable sol