SINGAPORE: Singapore’s sovereign fund GIC Pte has invested US$200mil in a geothermal heating company backed by China’s biggest oil refiner, people with knowledge of the matter said.
The venture, known as Sinopec Green Energy Geothermal Development Co, is considering an initial public offering (IPO) in mainland China or Hong Kong as soon as next year, said the people, who asked not to be identified as the information is private.
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