Chinese tycoon seeks to buy Norway's Arctic islands

Zhongkun Group property developer founder Huang Nubo may buy a tract of privately owned Arctic Svalbard Islands, which was recently put up for sale by Norwegian landlord Henning Horn.

Chinese tycoon seeks to buy Norway's Arctic islands

World Bulletin / News Desk

A Chinese business tycoon is seeking to invest heavily in Norway following a failed attempt to purchase a vast amount of land in Iceland.

Zhongkun Group property developer founder Huang Nubo told AFP on Monday he is looking to invest $111 million in Norway in the next five to ten years.

Nubo is now looking to purchase a tract of privately owned Arctic Svalbard Islands, which was recently put up for sale by Norwegian landlord Henning Horn.

Three years ago Nubo had an attempt to buy land in Iceland for a $200 million project to built a tourist resort due to the country's foreign ownership laws.

Norway and China have had a rocky relationship as of late, with ties being strained after Norway's Committee awarded the 2010 Nobel Peace Prize to jailed Chinese dissident Liu Xiaobo.

However, Norway made up for the mishap by refusing to meet with Tibet's Dalai Lama last month.

Last Mod: 06 Mayıs 2014, 15:24
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