(MENAFN) Chinese commercial conglomerate Wanda Group will invest about 45 billion yuan in northwest China's Gansu Province in the next three years.
Chairman of the company said the new investment will mainly flow to cultural tourism and modern services in the form of a mega cultural tourism project, five Wanda Plazas and three five-star hotels.
The Wanda Cultural Tourism City in the province's capital city Lanzhou, with an estimated investment of 30 billion yuan, is the company's first super project on the Silk Road Economic Belt.
The company has invested about 18 billion yuan in Gansu since it signed a strategic cooperation agreement with the province in 2017, creating about 30,000 local jobs.
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