Chinese tycoon's plan to buy bit of Iceland may fail over 'expansionist agenda' row
Beijing, Sep 3(ANI): Chinese tycoon Huang Nubo's plans to buy a large tract of land in Iceland may hit a roadblock as his scheme is being viewed as a part of China's expansionist agenda.
Nubo had earlier worked for the Chinese Communist Party's propaganda department and the Construction Ministry, and therefore, his plan to buy 115 square miles of the Grimsstadir farm, which amounts to 0.3 per cent of Iceland, has cast doubts about his intention.ubo said Beijing "has not given me a single cent".he project, which is the first major investment by a Chinese company in Iceland, has also aroused security concerns due to its strategic location, the Scotsman reports.
Iceland is located between Europe and the US and is close to the Arctic, where several nations are competing to exploit rich natural resources, including oil and gas.
Though Nubo has agreed to pay nine million dollars for the land on which he plans to build a golf course, hotel and outdoor recreation centre, he said he would not undertake the project at the expense of straining Sino- Iceland ties.
"The government may say: 'Please do not go, do not make trouble'.Maybe they will think: 'Do not arouse any unhappiness for Sino-Iceland relations.' Then I will just give it up", Huang said.
He said both sides needed to approve the deal and that the Chinese Government could take up to six months to take a decision as compared to Iceland, which may take upto ten days to decide the matter.
Iceland's Interior Minister Ogmundur Jonasson his country would look at the deal carefully taking into account the issues of foreign ownership and access to natural resources. (ANI)
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