Construction Mogul Looks Toward Greece
Published By : 02 Feb 2015 | Published By : QYRESEARCH
The construction giant from China is now searching for investment opportunities in Greece. This comes after his company has been pursuing indebted local authorities for US$8 billion in unpaid infrastructure bills. The mogul maintains risk factors high by trying to hunt in the Greece market.
The founder of China’s largest private sector company, Yan Jiehe, has created the first ever lawsuits against six county governments and municipal governments regarding unpaid bills.
In a recent interview, Yan said that the company was testing the waters with their flurry of lawsuits. This was also meant to be a warning to the other people who were in debt to his company, namely China Pacific Construction Group.
He also mentioned that despite the financial issues, his company’s risk taking factor has not reduced the slightest, and now aims for overseas markets. Yan will be going to Eastern Europe, mostly in Greece, Albania, and Macedonia, to try and invest in their national infrastructure and simultaneously buy out construction companies.
Yan and his company remain undaunted by the current developments regarding Greece’s economy. Recently, voters in Greece have elected an anti-austerity government. The new governing body has promised to keep a hard line with the nation’s creditors from the E.U. The creditors had bailed the country out from its financial crisis. The situation has also raised many questions about the staying of Athens in the eurozone.
Yan said that Greece’s economy is close to the bottom, which is an ideal time for investors to jump in. he is not concerned over the status of Greece with the eurozone.