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500 Million USD Will be Invested to Help Solve the Housing Issue in Suriname

Broad Homes Industrial International Co., Ltd. and China-Lac Cooperation Fund will establish joint venture to invest in Suriname.

Conference Site

On May 11th, the Hunan Province Overseas Financing (HongKong) Conference for the “Belt and Road Initiative” was held in Hong Kong. Mr. Qiu Hong, deputy director of  Liaison Office of the Central People Government, Mr. He Baoxiang, vice governor of Hunan Province, Mrs. Peggy Bouterse, Plenipotentiary Representative of the President of Suriname, and Mr. GillmoreHoefdraad, minister of finance of Suriname attended the signing ceremony. 

Signing Ceremony

Chairman of Broad Homes Industrial International Co., Ltd. Mr.Jim H.T.Lok is signing contract with China-Lac Cooperation Fund

On the signing ceremony, 14 projects contracts are signed, amounting to 93 billion RMB. The leading industrialized building company in China, Broad Homes Industrial Co., Ltd.’s subsidiary company Broad Homes Industrial International Co., Ltd., signed the official cooperative joint venture contract and terms sheet with China-Lac Cooperation Fund. Both parties will invest 500 million USD (first phase 50 million USD, second phase 450 million USD) in total to advance the building of houses and infrastructure projects in the Republic of Suriname through a PPP model. This will provide 8000 units of affordable housing and supporting infrastructure (including roads, service infrastructure, business etc.) to help solve the housing issue in Suriname.

Project Promotion

The China-Lac Cooperation Fund is initiated in a meeting between China’s President Xi and the leaders of Caribbean countries. The fund is founded by Export-Import Bank of China and China’s State Administration of Foreign Exchange. Through stock rights and creditor’s rights investments are made in Latin America in areas such as energy resources, infrastructure building, agriculture, manufacture industry, technical innovation, information technology, production capacity cooperation and other areas. This is done to support the joint projects between China and countries in Latin America and the communities, economy, environmental development and sustainable development in Latin America. 

Meeting with the delegation of China-Lac Cooperation Fund

The smooth progress of the project is inseparable from the support of Mr. Jim H.T. Lok, the Honorary Consul of the Republic of Suriname in Hong Kong and President of Broad Homes Industrial International Co., Ltd. Through Mr. Lok’s endeavor in multiparty communication and negotiation, the delegation of China-Lac Cooperation Fund went to Suriname to make an on-site investigation on the general national situation, land and housing market on April of 2016. They were very optimistic about the development of the housing in Suriname and believe that precast concrete building would obtain a bright market prospects in Latin America. They hoped to cooperate with Broad Homes Industrial International Co., Ltd., to solve the housing and infrastructure issues in Suriname.

Mr. GillmoreHoefdraad, minister of finance of the republic of Suriname, represents that Suriname has a natural advantage in minerals, forests, fisheries, land, gold and other natural resources, and they welcome foreign investment and cooperation with Suriname PostBank.

Interview with the minister of finance of Suriname

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